Brightcove (NASDAQ:BCOV) Updates Q4 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -0.040–0.010 for the period, compared to the consensus estimate of -0.030. The company issued revenue guidance of $48.0 million-$49.0 million, compared to the consensus revenue estimate of $48.7 million. Brightcove also updated its FY 2024 guidance to -0.020-0.000 EPS.

Brightcove Stock Performance

Shares of BCOV traded up $0.55 on Tuesday, hitting $2.69. 1,258,672 shares of the stock traded hands, compared to its average volume of 232,959. The company has a market capitalization of $120.83 million, a PE ratio of -13.80 and a beta of 0.74. Brightcove has a one year low of $1.55 and a one year high of $2.87. The business has a 50 day simple moving average of $2.17 and a 200 day simple moving average of $2.15.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the purchase, the insider now directly owns 6,651,535 shares in the company, valued at $13,768,677.45. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 98,988 shares of company stock valued at $200,689. 4.20% of the stock is owned by company insiders.

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.