Brightcove (NASDAQ:BCOV) Issues FY 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) issued an update on its FY 2024 earnings guidance on Monday morning. 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.

Brightcove Stock Performance

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

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data 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 company had revenue of $49.25 million for 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 prior year, the firm posted ($0.07) EPS. As a group, sell-side analysts predict that Brightcove will post -0.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BCOV. Lake Street Capital raised Brightcove from a “hold” rating to a “buy” rating and lifted their price target for the company from $2.75 to $3.50 in a research note on Tuesday. StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $1.98 per share, with a total value of $39,600.00. Following the acquisition, the insider now directly owns 6,581,414 shares of the company’s stock, valued at $13,031,199.72. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have bought 98,988 shares of company stock worth $200,689. 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.