Brightcove (NASDAQ:BCOV) Upgraded by Lake Street Capital to Buy Rating

Lake Street Capital upgraded shares of Brightcove (NASDAQ:BCOV - Free Report) from a hold rating to a buy rating in a research note released on Tuesday, Marketbeat.com reports. They currently have $3.50 price target on the software maker's stock, up from their previous price target of $2.75.

Separately, StockNews.com raised Brightcove from a "hold" rating to a "buy" rating in a research report on Thursday, September 5th.

Brightcove Price Performance

NASDAQ BCOV traded up $0.41 during mid-day trading on Tuesday, hitting $2.55. The stock had a trading volume of 1,728,535 shares, compared to its average volume of 235,155. Brightcove has a twelve month low of $1.55 and a twelve month high of $2.88. The firm's 50 day moving average is $2.17 and its 200 day moving average is $2.15. The stock has a market capitalization of $114.55 million, a price-to-earnings ratio of -13.80 and a beta of 0.74.

Brightcove (NASDAQ:BCOV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. The business had revenue of $49.25 million for the quarter. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. During the same quarter in the prior year, the firm earned ($0.07) EPS. As a group, equities research analysts expect that Brightcove will post -0.32 earnings per share for the current year.

Insider Activity

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the firm's stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $1.98 per share, with a total value of $39,600.00. Following the transaction, the insider now owns 6,581,414 shares of the company's stock, valued at $13,031,199.72. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired 98,988 shares of company stock valued at $200,689 in the last ninety days. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Brightcove

Several large investors have recently bought and sold shares of BCOV. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Brightcove during the first quarter worth about $33,000. BNP Paribas Financial Markets grew its stake in Brightcove by 26.6% in the 1st quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker's stock worth $208,000 after acquiring an additional 22,466 shares during the period. GSA Capital Partners LLP raised its holdings in Brightcove by 151.0% in the 1st quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker's stock valued at $437,000 after acquiring an additional 135,462 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Brightcove by 89.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker's stock worth $42,000 after purchasing an additional 10,120 shares during the period. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Brightcove during the first quarter worth $642,000. Institutional investors and hedge funds own 80.12% of the company's stock.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.