Brightcove (NASDAQ:BCOV) Updates FY 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of -0.020-0.000 for the period, compared to the consensus EPS estimate of -0.090. The company issued revenue guidance of $197.7 million-$198.7 million, compared to the consensus revenue estimate of $196.9 million. Brightcove also updated its Q4 2024 guidance to -0.040–0.010 EPS.

Brightcove Trading Up 3.9 %

BCOV traded up $0.10 on Wednesday, reaching $2.65. The stock had a trading volume of 352,600 shares, compared to its average volume of 235,722. The firm has a 50-day moving average of $2.17 and a 200-day moving average of $2.16. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $2.88. The company has a market capitalization of $119.04 million, a price-to-earnings ratio of -13.45 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $49.25 million for the quarter. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. During the same period in the previous year, the business posted ($0.07) EPS. Sell-side analysts anticipate that Brightcove will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BCOV. StockNews.com raised Brightcove from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Lake Street Capital raised shares of Brightcove from a “hold” rating to a “buy” rating and upped their price objective for the company from $2.75 to $3.50 in a report on Tuesday.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $1.98 per share, for a total transaction of $39,600.00. Following the transaction, the insider now owns 6,581,414 shares in the company, valued at $13,031,199.72. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 98,988 shares of company stock worth $200,689. Corporate insiders own 4.20% of the company’s stock.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.