$37.16 Million in Sales Expected for Brightcove Inc. (NASDAQ:BCOV) This Quarter

Equities analysts expect that Brightcove Inc. (NASDAQ:BCOV) will post $37.16 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Brightcove’s earnings. The highest sales estimate is $37.47 million and the lowest is $37.00 million. Brightcove reported sales of $36.96 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.5%. The firm is expected to issue its next earnings report after the market closes on Wednesday, July 26th.

According to Zacks, analysts expect that Brightcove will report full year sales of $37.16 million for the current year, with estimates ranging from $151.49 million to $152.74 million. For the next fiscal year, analysts expect that the company will post sales of $162.22 million per share, with estimates ranging from $158.56 million to $166.15 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Brightcove.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.04. The company had revenue of $37.60 million during the quarter, compared to the consensus estimate of $37.38 million. Brightcove had a negative net margin of 8.88% and a negative return on equity of 12.25%. Brightcove’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share.

A number of equities research analysts have recently issued reports on BCOV shares. TheStreet lowered Brightcove from a “c-” rating to a “d+” rating in a research report on Tuesday, May 9th. ValuEngine lowered Brightcove from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Brightcove from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 18th. Stifel Nicolaus dropped their price target on Brightcove from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Monday, May 15th. Finally, B. Riley cut Brightcove to a “neutral” rating and set a $5.50 price objective on the stock. in a report on Wednesday, May 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.25.

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Brightcove (BCOV) remained flat at $6.50 during midday trading on Thursday. 41,016 shares of the company traded hands. The firm’s market capitalization is $219.59 million. Brightcove has a 1-year low of $5.40 and a 1-year high of $13.80. The firm’s 50-day moving average price is $6.27 and its 200-day moving average price is $7.37.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCOV. TFS Capital LLC boosted its stake in Brightcove by 78.5% in the first quarter. TFS Capital LLC now owns 47,293 shares of the software maker’s stock worth $421,000 after buying an additional 20,793 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in Brightcove during the first quarter worth approximately $1,766,000. Hood River Capital Management LLC boosted its stake in Brightcove by 3.1% in the first quarter. Hood River Capital Management LLC now owns 545,524 shares of the software maker’s stock worth $4,855,000 after buying an additional 16,268 shares during the last quarter. Algert Global LLC boosted its stake in Brightcove by 13.0% in the first quarter. Algert Global LLC now owns 277,351 shares of the software maker’s stock worth $2,468,000 after buying an additional 31,954 shares during the last quarter. Finally, Pembroke Management LTD boosted its stake in Brightcove by 32.3% in the first quarter. Pembroke Management LTD now owns 1,183,800 shares of the software maker’s stock worth $10,535,000 after buying an additional 289,300 shares during the last quarter. Hedge funds and other institutional investors own 74.74% of the company’s stock.

Brightcove Company Profile

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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