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

Brightcove (NASDAQ:BCOV) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Separately, Lake Street Capital upgraded shares of Brightcove from a “hold” rating to a “buy” rating and boosted their target price for the company from $2.75 to $3.50 in a research note on Tuesday, November 5th.

Brightcove Price Performance

NASDAQ BCOV opened at $2.98 on Tuesday. The stock has a market capitalization of $133.86 million, a price-to-earnings ratio of -14.19 and a beta of 0.74. The business’s fifty day moving average is $2.25 and its 200-day moving average is $2.21. Brightcove has a one year low of $1.55 and a one year high of $3.05.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the purchase, the insider now directly owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 48,988 shares of company stock worth $100,789 in the last ninety days. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Brightcove

A number of hedge funds have recently added to or reduced their stakes in BCOV. Mackenzie Financial Corp grew its holdings in shares of Brightcove by 11.0% during the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock worth $145,000 after purchasing an additional 6,095 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of Brightcove by 12.4% in the 1st quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock valued at $165,000 after buying an additional 9,353 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Brightcove by 89.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock valued at $42,000 after buying an additional 10,120 shares in the last quarter. Pitcairn Co. bought a new stake in shares of Brightcove in the first quarter worth $27,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of Brightcove in the 2nd quarter valued at approximately $34,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Brightcove Company Profile

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.