There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Brightcove Inc (BCOV) and Carbonite Inc (CARB) with bullish sentiments.
Brightcove Inc (BCOV)
B.Riley FBR analyst Lee Krowl maintained a Buy rating on Brightcove Inc today and set a price target of $13. The company’s shares closed yesterday at $11.42, close to its 52-week high of $11.79.
Krowl wrote:
“Brightcove (BCOV) will report its 2Q results on Wednesday (7/24), AMC. For 2Q, we are modeling revenue/AEBITDA of $45.5M/$(0.2M) versus consensus at $45.8M/$(0.8M), and we expect the company to report in line with consensus estimates. While execution in the core business appears on track, we note the company’s product/selling initiatives to accelerate deal pipeline velocity along with the integration of Ooyala are priorities for management which could drive higher expenses relative to our estimates. As for revenue, the swing factor in the quarter is overages which the company expects to decline Y/Y , and are something we admittedly have limited visibility into. As for 3Q, we believe the company will guide in line with consensus revenue/AEBITDA at $47.5M/$2.3M while maintaining full year outlook.”
According to TipRanks.com, Krowl is a 4-star analyst with an average return of 64.5% and a 70.0% success rate. Krowl covers the Technology sector, focusing on stocks such as Limelight Networks, Rubicon Project, and Telaria Inc.
Currently, the analyst consensus on Brightcove Inc is a Moderate Buy with an average price target of $13.50.
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Carbonite Inc (CARB)
In a report released today, Sarkis Sherbetchyan from B.Riley FBR reiterated a Buy rating on Carbonite Inc, with a price target of $42. The company’s shares closed yesterday at $24.42, close to its 52-week low of $21.84.
Sherbetchyan said:
“PT) reports 2Q19 results after market close on and will host its quarterly earnings conference call at 5:30pm ET (Dial-in: ID#: 8188460). Our and consensus revenue/adjusted EBITDA estimates sit near the midpoint of CARB’s 2Q outlook, which mgmt. reiterated on July 1 and includes non-GAAP revenues/ adjusted EBITDA of $133M-$137M/$34M-$36M, respectively. Remember, CARB’s FY19 outlook calls for non-GAAP revenues of $491M-$505M, adjusted and adjusted EBITDA of $132M-$137M. The annual guidance includes nine months of contribution from the Webroot acquisition, which remains underappreciated in our view.”
According to TipRanks.com, Sherbetchyan is a 1-star analyst with an average return of -2.7% and a 43.6% success rate. Sherbetchyan covers the Consumer Goods sector, focusing on stocks such as Vishay Precision Group, S&W Seed Company, and Ferroglobe PLC.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Carbonite Inc with a $38 average price target.
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