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

Stock analysts at StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a research report issued to clients and investors on Sunday. The brokerage set a “buy” rating on the software maker’s stock.

Several other research analysts also recently weighed in on the stock. Lake Street Capital downgraded shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Rosenblatt Securities reissued a “neutral” rating and set a $4.45 target price (down previously from $5.00) on shares of Brightcove in a report on Monday, November 25th.

Brightcove Stock Performance

Shares of NASDAQ BCOV opened at $4.42 on Friday. The firm has a market cap of $199.52 million, a PE ratio of -21.05 and a beta of 1.01. Brightcove has a one year low of $1.55 and a one year high of $4.44. The firm has a fifty day moving average of $4.09 and a 200 day moving average of $2.89.

Institutional Investors Weigh In On Brightcove

A number of hedge funds have recently modified their holdings of BCOV. Mackenzie Financial Corp grew its stake in Brightcove by 11.0% during the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after acquiring an additional 6,095 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Brightcove by 99.3% in the third quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock valued at $66,000 after purchasing an additional 15,291 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Brightcove in the second quarter valued at approximately $36,000. Cubist Systematic Strategies LLC purchased a new position in Brightcove during the second quarter worth approximately $54,000. Finally, Geode Capital Management LLC boosted its stake in Brightcove by 8.3% during the third quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after buying an additional 37,584 shares during the last quarter. 80.12% of the stock is currently owned by institutional investors and hedge funds.

About Brightcove

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.