Brightcove (NASDAQ:BCOV) Releases FY 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of -0.020-0.000 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

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

Brightcove Stock Up 25.7 %

BCOV stock traded up $0.55 during mid-day trading on Tuesday, reaching $2.69. 1,258,672 shares of the company traded hands, compared to its average volume of 232,959. The firm’s 50 day moving average price is $2.17 and its 200 day moving average price is $2.15. The stock has a market cap of $120.83 million, a price-to-earnings ratio of -13.80 and a beta of 0.74. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $2.87.

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

Insider Transactions at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $1.98 per share, with a total value of $39,600.00. Following the acquisition, the insider now owns 6,581,414 shares in the company, valued at approximately $13,031,199.72. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased a total of 98,988 shares of company stock worth $200,689 in the last quarter. Insiders own 4.20% of the company’s stock.

About Brightcove

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.