Brightcove (NASDAQ:BCOV) Earns Buy Rating from Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a note issued to investors on Tuesday. The brokerage set a “buy” rating on the software maker’s stock.

Other equities analysts have also recently issued reports about the stock. Lake Street Capital cut shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $4.45 target price (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove Stock Performance

Shares of Brightcove stock opened at $4.33 on Tuesday. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.39. The firm has a 50-day simple moving average of $2.88 and a two-hundred day simple moving average of $2.44. The company has a market cap of $195.46 million, a P/E ratio of -20.62 and a beta of 1.01.

Insiders Place Their Bets

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the purchase, the insider now directly owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. The trade was a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired a total of 32,158 shares of company stock worth $66,455 in the last ninety days. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brightcove

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new stake in Brightcove during the first quarter worth approximately $29,000. Aaron Wealth Advisors LLC purchased a new position in shares of Brightcove in the 2nd quarter valued at $34,000. XTX Topco Ltd purchased a new stake in Brightcove in the second quarter valued at $36,000. Wedbush Securities Inc. acquired a new stake in shares of Brightcove during the second quarter worth about $47,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Brightcove in the second quarter valued at approximately $53,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

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.