Brightcove (NASDAQ:BCOV) Updates Q4 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) updated its fourth quarter 2024 earnings guidance on Monday. 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.

Wall Street Analyst Weigh In

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

Brightcove Stock Up 4.2 %

NASDAQ BCOV traded up $0.11 on Thursday, reaching $2.75. The stock had a trading volume of 181,909 shares, compared to its average volume of 236,473. The firm has a market capitalization of $123.53 million, a price-to-earnings ratio of -13.20 and a beta of 0.74. Brightcove has a 12-month low of $1.55 and a 12-month high of $2.88. The stock has a fifty day moving average price of $2.18 and a two-hundred day moving average price of $2.16.

Brightcove (NASDAQ:BCOV) last announced its earnings results 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. 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 previous year, the firm earned ($0.07) EPS. Sell-side analysts forecast that Brightcove will post -0.32 earnings per share for the current fiscal year.

Insider Activity

In other Brightcove news, major shareholder Edenbrook Capital, Llc acquired 30,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $2.01 per share, with a total value of $60,300.00. Following the purchase, the insider now owns 6,561,414 shares in the company, valued at approximately $13,188,442.14. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased 98,988 shares of company stock worth $200,689 in the last 90 days. 4.20% 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.