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

StockNews.com initiated coverage on shares of Brightcove (NASDAQ:BCOV) in a research report report published on Tuesday. The brokerage issued a buy rating on the software maker’s stock.

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

Brightcove Price Performance

Shares of BCOV opened at $4.45 on Tuesday. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.46. The firm’s 50 day moving average price is $4.38 and its 200 day moving average price is $3.08. The company has a market cap of $202.12 million, a P/E ratio of -21.19 and a beta of 1.01.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Brightcove in the 2nd quarter valued at $54,000. JPMorgan Chase & Co. boosted its holdings in shares of Brightcove by 99.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock valued at $66,000 after buying an additional 15,291 shares in the last quarter. R Squared Ltd acquired a new position in shares of Brightcove in the 4th quarter valued at $90,000. AQR Capital Management LLC acquired a new position in shares of Brightcove in the 2nd quarter valued at $143,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Brightcove by 11.0% in the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after buying an additional 6,095 shares in the last quarter. Institutional investors and hedge funds 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.