Brightcove price target lowered to $4 from $5 at Lake Street

Lake Street analyst Eric Martinuzzi lowered the firm’s price target on Brightcove to $4 from $5 and keeps a Buy rating on the shares. The firm reduced its price target on the continued cash usage and contracting multiples in the space, but notes that Brightcove reported Q3 revenue and AEBITDA above consensus and the company” talked to potential modest growth” while not giving firm guidance for FY24.