The stock of Brightcove Inc (NASDAQ:BCOV) hit a new 52-week high and has $34.73 target or 155.00% above today’s $13.62 share price. The 5 months bullish chart indicates low risk for the $460.90 million company. The 1-year high was reported on Oct, 5 by Barchart.com. If the $34.73 price target is reached, the company will be worth $714.40 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 28,253 shares traded hands. Brightcove Inc (NASDAQ:BCOV) has risen 122.59% since March 2, 2016 and is uptrending. It has outperformed by 114.33% the S&P500.
Analysts await Brightcove Inc (NASDAQ:BCOV) to report earnings on November, 3. They expect $-0.03 earnings per share, down 200.00% or $0.02 from last year’s $-0.01 per share. After $-0.05 actual earnings per share reported by Brightcove Inc for the previous quarter, Wall Street now forecasts -40.00% EPS growth.
Brightcove Inc (NASDAQ:BCOV) Ratings Coverage
Out of 3 analysts covering Brightcove (NASDAQ:BCOV), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Brightcove has been the topic of 3 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Ladenburg Thalmann initiated the shares of BCOV in a report on Tuesday, March 22 with “Buy” rating. The firm has “Buy” rating by Dougherty & Company given on Tuesday, September 6. On Friday, July 31 the stock rating was maintained by Stifel Nicolaus with “Buy”.
According to Zacks Investment Research, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts.”
Insitutional Activity: The institutional sentiment decreased to 1.15 in 2016 Q2. Its down 0.36, from 1.51 in 2016Q1. The ratio worsened, as 9 funds sold all Brightcove Inc shares owned while 31 reduced positions. 15 funds bought stakes while 31 increased positions. They now own 17.75 million shares or 12.68% less from 20.33 million shares in 2016Q1.
The Texas-based Bridgeway Cap Mgmt has invested 0.03% in Brightcove Inc (NASDAQ:BCOV). State Of New Jersey Common Pension Fund D holds 120,000 shares or 0% of its portfolio. Ladenburg Thalmann Financial Serv last reported 1,000 shares in the company. Morgan Stanley owns 88,347 shares or 0% of their US portfolio. Connor Clark And Lunn Inv Mngmt has invested 0% of its portfolio in Brightcove Inc (NASDAQ:BCOV). Strs Ohio owns 24,900 shares or 0% of their US portfolio. Blackrock Advsr Limited Liability Company last reported 0% of its portfolio in the stock. Legal And General Gp Public Limited has 0% invested in the company for 5,981 shares. Spark Invest Mgmt Ltd Liability Corporation, a New York-based fund reported 238,700 shares. Moreover, Oberweis Asset Mngmt has 0.2% invested in Brightcove Inc (NASDAQ:BCOV) for 76,800 shares. New York State Common Retirement Fund, a New York-based fund reported 29,700 shares. Thompson Davis & Com last reported 0.1% of its portfolio in the stock. Bogle Mngmt Lp De accumulated 147,400 shares or 0.09% of the stock. Aqr Capital Management has 94,145 shares for 0% of their US portfolio. Frontier Com Llc has invested 0.18% of its portfolio in Brightcove Inc (NASDAQ:BCOV).
Insider Transactions: Since August 22, 2016, the stock had 0 buys, and 7 selling transactions for $6.00 million net activity. 5,000 shares were sold by Stagno Christopher, worth $64,850 on Wednesday, September 7. KURNIT SCOTT had sold 29,700 shares worth $367,200 on Tuesday, September 13. The insider RHODES KEVIN R sold 15,092 shares worth $179,286. On Friday, September 9 the insider Kapoor Chet sold $70,036.
BCOV Company Profile
Brightcove Inc., incorporated on August 24, 2004, is a well-known provider of cloud services for video. The Company’s flagship product is Brightcove Video Cloud (Video Cloud), an online video platform. The Company’s other services and products include Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Gallery (Gallery), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite) and Brightcove Lift (Lift). The Firm provides its solutions to media companies, broadcasters, publishers, brands and firms, as well as governments, educational institutions and non-profit organizations. The Firm operates data center facilities in the greater Boston area, the greater Chicago area, Phoenix and Amsterdam, and also uses third-party cloud computing platforms. It operates its own servers for systems that manage meta-data, business rules and archival storage of media assets.
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