Brokerages forecast that Brightcove Inc (NASDAQ:BCOV) will post earnings per share of ($0.06) for the current quarter, according to Zacks. Three analysts have issued estimates for Brightcove’s earnings, with estimates ranging from ($0.07) to ($0.04). Brightcove reported earnings per share of ($0.08) during the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The company is scheduled to issue its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Brightcove will report full-year earnings of ($0.01) per share for the current financial year, with EPS estimates ranging from ($0.06) to $0.02. For the next year, analysts expect that the business will report earnings of $0.10 per share, with EPS estimates ranging from ($0.04) to $0.20. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Brightcove.
Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07. The business had revenue of $40.10 million for the quarter, compared to analyst estimates of $39.52 million. Brightcove had a negative net margin of 12.52% and a negative return on equity of 23.20%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 earnings per share.
A number of brokerages recently issued reports on BCOV. BidaskClub upgraded shares of Brightcove from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Zacks Investment Research upgraded shares of Brightcove from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Brightcove presently has an average rating of “Hold” and an average target price of $8.31.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC acquired a new stake in Brightcove during the fourth quarter worth approximately $123,000. Millennium Management LLC boosted its position in Brightcove by 100.9% during the fourth quarter. Millennium Management LLC now owns 585,845 shares of the software maker’s stock worth $4,159,000 after acquiring an additional 294,302 shares during the last quarter. Two Sigma Investments LP boosted its position in Brightcove by 153.9% during the fourth quarter. Two Sigma Investments LP now owns 152,772 shares of the software maker’s stock worth $1,085,000 after acquiring an additional 92,598 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Brightcove by 167.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 40,014 shares of the software maker’s stock worth $284,000 after acquiring an additional 25,071 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in Brightcove during the fourth quarter worth approximately $515,000. Hedge funds and other institutional investors own 62.10% of the company’s stock.
Shares of BCOV stock traded down $0.10 during trading hours on Wednesday, hitting $6.85. The company’s stock had a trading volume of 50,592 shares, compared to its average volume of 161,388. Brightcove has a twelve month low of $5.40 and a twelve month high of $9.00.
Brightcove Company Profile
Brightcove Inc provides cloud-based services for video. The company offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. Its Video Cloud platform offers various features and functionalities, such as uploading and encoding, content management, video player technology, multi-platform video experiences, live video streaming, distribution and syndication, social media, advertising and monetization, and analytics, as well as APIs, SDKs, and developer resources.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Brightcove Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightcove and related companies with MarketBeat.com's FREE daily email newsletter.