Brightcove (NASDAQ:BCOV) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of Brightcove (NASDAQ:BCOV) from a buy rating to a strong-buy rating in a report published on Saturday.

Brightcove Trading Up 0.4 %

Shares of NASDAQ:BCOV opened at $2.44 on Friday. The stock has a 50-day simple moving average of $2.26 and a 200-day simple moving average of $2.12. Brightcove has a 1 year low of $1.55 and a 1 year high of $4.56.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, May 8th. The software maker reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $50.48 million for the quarter. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. On average, equities analysts predict that Brightcove will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brightcove

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in shares of Brightcove by 12.5% during the first quarter. Acadian Asset Management LLC now owns 801,459 shares of the software maker’s stock worth $1,553,000 after buying an additional 88,935 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in Brightcove in the first quarter worth about $642,000. GSA Capital Partners LLP lifted its holdings in Brightcove by 151.0% during the 1st quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock worth $437,000 after buying an additional 135,462 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Brightcove by 26.6% during the 1st quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker’s stock valued at $208,000 after acquiring an additional 22,466 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Brightcove by 12.4% during the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock worth $165,000 after purchasing an additional 9,353 shares during the last quarter. 80.12% of the stock is 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.