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 (EPS) guidance of -0.020-0.000 for the period, compared to the consensus 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 Ratings Changes

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

Brightcove Trading Up 3.4 %

Shares of BCOV traded up $0.07 on Monday, reaching $2.14. 363,285 shares of the company’s stock were exchanged, compared to its average volume of 227,632. Brightcove has a 12 month low of $1.55 and a 12 month high of $2.70. The stock has a market capitalization of $96.13 million, a P/E ratio of -10.75 and a beta of 0.74. The business has a 50 day moving average price of $2.17 and a two-hundred day moving average price of $2.15.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate 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 company had revenue of $49.25 million during the quarter. During the same quarter in the previous year, the firm posted ($0.07) EPS. Equities research analysts predict that Brightcove will post -0.32 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the stock in a transaction dated 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 purchase, the insider now directly owns 6,581,414 shares in the company, valued at $13,031,199.72. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have purchased 98,988 shares of company stock worth $200,689. Insiders own 3.70% of the company’s stock.

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.