Analysts forecast that Brightcove Inc (NASDAQ:BCOV) will announce $47.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Brightcove’s earnings, with the lowest sales estimate coming in at $47.21 million and the highest estimate coming in at $47.34 million. Brightcove posted sales of $41.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 15%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Brightcove will report full year sales of $185.14 million for the current fiscal year, with estimates ranging from $185.08 million to $185.20 million. For the next year, analysts forecast that the company will post sales of $203.10 million, with estimates ranging from $201.56 million to $204.64 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Brightcove.
Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, July 24th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. Brightcove had a negative return on equity of 12.20% and a negative net margin of 10.70%. The business had revenue of $47.58 million during the quarter, compared to analysts’ expectations of $45.74 million. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis.
A number of analysts have recently issued reports on BCOV shares. B. Riley reiterated a “buy” rating on shares of Brightcove in a report on Tuesday, July 23rd. BidaskClub cut Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday. ValuEngine cut Brightcove from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research cut Brightcove from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $13.00.
Shares of NASDAQ:BCOV traded up $0.10 during trading on Tuesday, reaching $11.21. 109,294 shares of the stock were exchanged, compared to its average volume of 176,025. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 0.82. Brightcove has a 12-month low of $6.88 and a 12-month high of $12.88. The firm has a market cap of $425.28 million, a price-to-earnings ratio of -41.52 and a beta of 0.86. The firm’s 50-day moving average price is $12.09 and its 200 day moving average price is $10.19.
A number of institutional investors have recently added to or reduced their stakes in BCOV. Acadian Asset Management LLC acquired a new position in Brightcove during the 1st quarter worth approximately $1,561,000. BlackRock Inc. lifted its position in Brightcove by 6.4% during the 2nd quarter. BlackRock Inc. now owns 2,454,233 shares of the software maker’s stock worth $25,353,000 after acquiring an additional 148,103 shares in the last quarter. Tenzing Global Management LLC lifted its position in Brightcove by 4.5% during the 2nd quarter. Tenzing Global Management LLC now owns 2,950,000 shares of the software maker’s stock worth $30,474,000 after acquiring an additional 127,357 shares in the last quarter. Vanguard Group Inc. lifted its position in Brightcove by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,913,253 shares of the software maker’s stock worth $19,764,000 after acquiring an additional 114,262 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Brightcove by 16.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 406,739 shares of the software maker’s stock worth $4,202,000 after acquiring an additional 57,396 shares in the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.
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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