Brightcove (NASDAQ:BCOV) Earns Buy Rating from Analysts at StockNews.com

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

Brightcove Price Performance

NASDAQ BCOV opened at $4.45 on Thursday. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.46. The company has a market capitalization of $202.12 million, a P/E ratio of -21.19 and a beta of 1.01. The company’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $3.92.

Hedge Funds Weigh In On Brightcove

Hedge funds have recently modified their holdings of the stock. Quinn Opportunity Partners LLC acquired a new position in shares of Brightcove in the 4th quarter valued at $44,000. LPL Financial LLC acquired a new stake in shares of Brightcove during the fourth quarter valued at approximately $46,000. Invesco Ltd. purchased a new stake in shares of Brightcove in the 4th quarter valued at approximately $47,000. Schonfeld Strategic Advisors LLC acquired a new position in Brightcove in the 4th quarter worth approximately $62,000. Finally, JPMorgan Chase & Co. grew its position in Brightcove by 99.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock worth $66,000 after purchasing an additional 15,291 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors and hedge funds.

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.