BidaskClub upgraded shares of Brightcove (NASDAQ:BCOV) from a sell rating to a hold rating in a research report report published on Friday.
A number of other research firms also recently weighed in on BCOV. B. Riley reissued a hold rating and set a $7.25 target price on shares of Brightcove in a research report on Friday, October 27th. Zacks Investment Research raised Brightcove from a hold rating to a buy rating and set a $8.50 target price on the stock in a research report on Tuesday, November 7th. Stifel Nicolaus lifted their price objective on Brightcove from $10.50 to $11.00 and gave the company a buy rating in a report on Friday, October 27th. Finally, Northland Securities raised Brightcove from a market perform rating to an outperform rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Brightcove currently has a consensus rating of Hold and an average price target of $8.44.
Brightcove (BCOV) traded down $0.15 during mid-day trading on Friday, reaching $7.15. The company had a trading volume of 358,788 shares, compared to its average volume of 120,811. Brightcove has a fifty-two week low of $5.40 and a fifty-two week high of $9.30. The firm has a market capitalization of $252.82, a P/E ratio of -12.54 and a beta of 1.86.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCOV. Litespeed Management L.L.C. acquired a new stake in Brightcove during the third quarter valued at approximately $8,570,000. Millennium Management LLC boosted its holdings in Brightcove by 100.9% during the fourth quarter. Millennium Management LLC now owns 585,845 shares of the software maker’s stock valued at $4,159,000 after purchasing an additional 294,302 shares in the last quarter. Discovery Group I LLC acquired a new stake in Brightcove during the third quarter valued at approximately $1,763,000. Emancipation Management LLC acquired a new stake in Brightcove during the third quarter valued at approximately $1,071,000. Finally, Vanguard Group Inc. boosted its holdings in Brightcove by 7.8% during the second quarter. Vanguard Group Inc. now owns 2,004,632 shares of the software maker’s stock valued at $12,428,000 after purchasing an additional 145,395 shares in the last quarter. 62.72% of the stock is currently owned by institutional investors.
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Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.
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