StockNews.com Initiates Coverage on Brightcove (NASDAQ:BCOV)

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

Several other research analysts have also recently commented on BCOV. Lake Street Capital cut Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Rosenblatt Securities restated a “neutral” rating and issued a $4.45 price target (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove Stock Down 0.5 %

Shares of Brightcove stock opened at $4.33 on Friday. The business has a fifty day simple moving average of $3.64 and a 200 day simple moving average of $2.72. The stock has a market cap of $195.44 million, a PE ratio of -20.62 and a beta of 1.02. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.40.

Hedge Funds Weigh In On Brightcove

A number of hedge funds have recently modified their holdings of BCOV. Mackenzie Financial Corp grew its position in Brightcove by 11.0% in the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after purchasing an additional 6,095 shares during the period. JPMorgan Chase & Co. boosted its holdings in Brightcove by 99.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock worth $66,000 after buying an additional 15,291 shares during the period. XTX Topco Ltd purchased a new position in Brightcove during the 2nd quarter valued at about $36,000. Wedbush Securities Inc. bought a new stake in shares of Brightcove during the 2nd quarter valued at about $47,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Brightcove in the 2nd quarter worth $53,000. 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.