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 guidance of -0.040–0.010 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Brightcove Trading Up 3.4 %

Shares of BCOV stock traded up $0.07 during trading hours on Monday, hitting $2.14. 73,271 shares of the company were exchanged, compared to its average volume of 227,632. The stock has a market capitalization of $96.13 million, a price-to-earnings ratio of -10.70 and a beta of 0.74. The firm has a fifty day simple moving average of $2.17 and a 200 day simple moving average of $2.15. Brightcove has a 52-week low of $1.55 and a 52-week high of $2.70.

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

Insider Transactions at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $1.98 per share, with a total value of $39,600.00. Following the completion of the purchase, the insider now owns 6,581,414 shares of the company’s stock, valued at $13,031,199.72. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders bought 98,988 shares of company stock worth $200,689. 3.70% of the stock is currently owned by corporate insiders.

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.