Northland Securities analyst Michael Latimore maintained a Buy rating on Brightcove Inc (BCOV) today and set a price target of $14. The company’s shares closed last Monday at $11.82.
Latimore wrote:
“We hosted BCOV management at our offices last week. With the strategy fully formed and senior management in place, execution is now the focus. Purpose-built, channel-ready product releases by year end are key next steps. BCOV continues to upgrade the salesforce. Management expects “breakout growth” in 2020; we believe probably targeting 2H20. Strategy. BCOV’s CEO joined BCOV in April 2018. Since then he has focused the company on core opportunities, and hired product, marketing and sales leaders. Other changes are targeting four core markets (regional broadcasters, unique OTT providers, marketing and demand gen, and corporate communications), and increasing the incentive to upsell and book new logos, as opposed to account management. More new logos, channel and international (such as Latin America) are parts of the GTM strategy.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 8.8% and a 51.2% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Everbridge Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Brightcove Inc with a $14 average price target.
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The company has a one-year high of $12.88 and a one-year low of $6.88. Currently, Brightcove Inc has an average volume of 167.9K.
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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.
