Ladenburg Believes Brightcove Inc (NASDAQ: BCOV) Still Has Room to Grow

By Austin Angelo

In a report released yesterday, Glenn G Mattson from Ladenburg maintained a Buy rating on Brightcove Inc (NASDAQ: BCOV), with a price target of $13. The company’s shares closed yesterday at $10.48, close to its 52-week high of $10.65.

G Mattson said:

“We spent time with company management on the BCOV user conference and the May 31. The company announced a number of new product introductions as is customary at its user conference, including OTT Flow X and multiple enterprise applications. OTT Flow X is designed to help companies launch an OTT offering rapidly. On the enterprise side, new innovations include interactive and personalized video experiences. While innovation continues, we view this period as a time of digestion from the major product launches released over the past two years. We believe new management is taking a measured approach. With a new CEO and new CFO, management is undergoing a business process review mainly focused on R&D and S&M.”

According to TipRanks.com, Mattson is a 3-star analyst with an average return of 5.3% and a 51.9% success rate. Mattson covers the Technology sector, focusing on stocks such as Progress Software Corp, Digimarc Corp, and Attunity Ltd.

Brightcove Inc has an analyst consensus of Moderate Buy, with a price target consensus of $13.

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The company has a one-year high of $10.65 and a one-year low of $5.98. Currently, Brightcove Inc has an average volume of 275K.

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Brightcove, Inc. engages in the provision of video cloud solutions. It enables customers to publish and distribute video to Internet-connected devices.