BCOV - Brightcove initiated at Buy by Lake Street Capital

Lake street Capital initiated Brightcove ([[BCOV]] +2.7%) at Buy, PT $15 (upside of 44.5% from current levels); in the past 6-months stock price has gained 45%.Wall St. Analysts Rating is Very Bullish, PT $13.33.While the company's pivot started in 2018 has been taking longer than originally planned, Analyst Eric Martinuzzi believes changes in people, products, and processes have driven recent improvements that "have the stock poised for upside".The company believes COVID is "a net positive" as demand for video-on-demand from home-bound consumers is causing new media and regional broadcasters to speed their investment in OTT distribution while Brightcove has seen a 95% increase in interest for live-streamed virtual customer conferences, the analyst noted.As per a recent Video-on-Demand report by Statista, revenue is estimated to reach $60,984M in 2020 with largest segment (Video Streaming) with a projected market volume of $51,617M; user penetration will be 11.9% in 2020 and is expected to hit

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Brightcove initiated at Buy by Lake Street Capital