Brightcove (NASDAQ:BCOV) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a research note issued to investors on Friday. The firm issued a buy rating on the software maker’s stock.

BCOV has been the subject of several other research reports. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Rosenblatt Securities restated a “neutral” rating and set a $4.45 target price (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove Price Performance

Brightcove stock opened at $4.36 on Friday. The company’s 50-day moving average is $3.68 and its 200-day moving average is $2.74. The firm has a market capitalization of $196.79 million, a PE ratio of -20.76 and a beta of 1.01. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.40.

Institutional Trading of Brightcove

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp grew its position in 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 acquiring an additional 6,095 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Brightcove by 99.3% during the third quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock worth $66,000 after purchasing an additional 15,291 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Brightcove in the second quarter valued at approximately $36,000. Wedbush Securities Inc. bought a new position in Brightcove in the 2nd quarter valued at approximately $47,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Brightcove in the 2nd quarter valued at approximately $53,000. Institutional investors own 80.12% of the company’s stock.

About Brightcove

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.