Brightcove Inc (NASDAQ:BCOV) Expected to Post Quarterly Sales of $47.55 Million

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Wall Street brokerages predict that Brightcove Inc (NASDAQ:BCOV) will post $47.55 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Brightcove’s earnings. The highest sales estimate is $47.69 million and the lowest is $47.40 million. Brightcove reported sales of $41.12 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The firm is expected to issue its next earnings results on Thursday, November 7th.

On average, analysts expect that Brightcove will report full year sales of $0.00 for the current financial year. For the next financial year, analysts expect that the company will post sales of $200.13 million, with estimates ranging from $199.54 million to $200.72 million. Zacks Investment Research’s sales calculations 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 Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The business had revenue of $47.58 million for the quarter, compared to analyst estimates of $45.74 million. Brightcove had a negative net margin of 10.70% and a negative return on equity of 12.20%. Brightcove’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share.

Several analysts have recently commented on BCOV shares. B. Riley reiterated a “buy” rating on shares of Brightcove in a report on Tuesday, July 23rd. Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. BidaskClub lowered shares of Woodward, Inc.Common Stock from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Northland Securities reiterated a “buy” rating and set a $14.00 target price on shares of Brightcove in a research report on Thursday, May 16th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $13.00.

Shares of BCOV stock opened at $11.79 on Friday. The firm has a 50-day moving average price of $10.61. The stock has a market capitalization of $451.30 million, a P/E ratio of -43.67 and a beta of 0.98. 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 one year low of $6.88 and a one year high of $12.82.

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its holdings in Brightcove by 68,190.9% during the first quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the software maker’s stock worth $63,000 after buying an additional 7,501 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Brightcove in the first quarter worth about $74,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Brightcove by 404.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,822 shares of the software maker’s stock worth $83,000 after purchasing an additional 9,480 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Brightcove by 144.2% in the fourth quarter. Bank of America Corp DE now owns 20,779 shares of the software maker’s stock worth $146,000 after purchasing an additional 12,271 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Brightcove by 8.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,527 shares of the software maker’s stock worth $299,000 after purchasing an additional 2,851 shares in the last quarter. Institutional investors and hedge funds own 78.87% of the company’s stock.

About Brightcove

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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