Zacks: Analysts Anticipate Brightcove Inc (BCOV) Will Post Earnings of -$0.06 Per Share

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.

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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.

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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.

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