Brightcove (NASDAQ:BCOV) Issues Q4 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of -0.040–0.010 for the period, compared to the consensus EPS 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.

Brightcove Trading Up 25.7 %

NASDAQ BCOV traded up $0.55 during trading on Tuesday, hitting $2.69. The company had a trading volume of 1,258,672 shares, compared to its average volume of 232,959. The company’s fifty day moving average is $2.17 and its 200-day moving average is $2.15. The company 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 one year low of $1.55 and a one year high of $2.87.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping 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 business had revenue of $49.25 million during the quarter. During the same quarter last year, the business earned ($0.07) earnings per share. As a group, equities analysts anticipate that Brightcove will post -0.32 EPS for the current year.

Analysts Set New Price Targets

BCOV has been the subject of a number of research reports. StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Lake Street Capital raised shares of Brightcove from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.75 to $3.50 in a research report on Tuesday.

Insider Activity

In related news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average cost of $2.07 per share, with a total value of $41,400.00. Following the completion of the acquisition, the insider now owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 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.