Wall Street analysts expect Brightcove Inc (NASDAQ:BCOV) to announce $45.68 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Brightcove’s earnings, with the highest sales estimate coming in at $45.82 million and the lowest estimate coming in at $45.54 million. Brightcove posted sales of $41.65 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.7%. The company is scheduled to issue its next earnings results on Thursday, July 25th.
On average, analysts expect that Brightcove will report full year sales of $183.98 million for the current fiscal year, with estimates ranging from $183.18 million to $184.78 million. For the next financial year, analysts anticipate that the business will report sales of $200.13 million, with estimates ranging from $199.54 million to $200.72 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Brightcove.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, April 24th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. Brightcove had a negative return on equity of 13.98% and a negative net margin of 10.13%. The firm had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $40.22 million. During the same period in the prior year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year.
A number of equities analysts have recently issued reports on BCOV shares. Northland Securities reiterated a “buy” rating and issued a $14.00 price objective on shares of Brightcove in a report on Thursday, May 16th. BidaskClub upgraded Brightcove from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 18th. Finally, Zacks Investment Research cut Brightcove from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Brightcove currently has a consensus rating of “Buy” and an average price target of $12.33.
Shares of BCOV traded up $0.01 during midday trading on Tuesday, reaching $10.03. The stock had a trading volume of 2,330 shares, compared to its average volume of 91,279. Brightcove has a 12-month low of $6.88 and a 12-month high of $10.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $379.54 million, a P/E ratio of -37.15 and a beta of 1.03.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its holdings in Brightcove by 68,190.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the software maker’s stock valued at $63,000 after acquiring an additional 7,501 shares during the period. Marshall Wace North America L.P. purchased a new stake in Brightcove during the 1st quarter valued at about $74,000. Metropolitan Life Insurance Co. NY boosted its holdings in Brightcove by 404.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,822 shares of the software maker’s stock valued at $83,000 after acquiring an additional 9,480 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Brightcove during the 4th quarter valued at about $104,000. Finally, Bank of America Corp DE boosted its holdings in Brightcove by 144.2% during the 4th quarter. Bank of America Corp DE now owns 20,779 shares of the software maker’s stock valued at $146,000 after acquiring an additional 12,271 shares during the period. Hedge funds and other institutional investors own 78.87% of the company’s stock.
Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.
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