StockNews.com Begins Coverage on Brightcove (NASDAQ:BCOV)

Equities researchers at StockNews.com assumed coverage on shares of Brightcove (NASDAQ:BCOV) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the software maker’s stock.

Several other analysts have also recently commented on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $4.45 price target (down from $5.00) on shares of Brightcove in a report on Monday, November 25th. Lake Street Capital cut Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th.

Brightcove Stock Performance

Brightcove stock opened at $4.45 on Wednesday. Brightcove has a twelve month low of $1.55 and a twelve month high of $4.46. The stock has a 50 day moving average of $4.39 and a two-hundred day moving average of $3.15. The stock has a market capitalization of $202.12 million, a price-to-earnings ratio of -21.19 and a beta of 1.01.

Hedge Funds Weigh In On Brightcove

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Brightcove by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 490,700 shares of the software maker’s stock valued at $2,135,000 after purchasing an additional 2,425 shares in the last quarter. AMH Equity Ltd increased its stake in Brightcove by 1.5% in the 4th quarter. AMH Equity Ltd now owns 507,513 shares of the software maker’s stock valued at $2,208,000 after purchasing an additional 7,513 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Brightcove by 30.1% in the 4th quarter. JPMorgan Chase & Co. now owns 39,938 shares of the software maker’s stock valued at $174,000 after purchasing an additional 9,249 shares in the last quarter. Quinn Opportunity Partners LLC purchased a new position in Brightcove in the 4th quarter valued at approximately $44,000. Finally, LPL Financial LLC purchased a new position in Brightcove in the 4th quarter valued at approximately $46,000. 80.12% of the stock is 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.