Brightcove (NASDAQ:BCOV) Updates FY 2024 Earnings Guidance

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

Brightcove Stock Performance

Shares of NASDAQ BCOV traded up $0.07 during trading on Monday, reaching $2.14. The stock had a trading volume of 73,271 shares, compared to its average volume of 227,632. The company has a market cap of $96.13 million, a P/E ratio of -10.70 and a beta of 0.74. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $2.70. The business’s 50-day moving average price is $2.17 and its 200-day moving average price is $2.15.

Brightcove (NASDAQ:BCOV) last released its earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate 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 during the quarter. During the same period in the prior year, the firm earned ($0.07) earnings per share. Analysts forecast that Brightcove will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Brightcove

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of Brightcove stock in a transaction on Thursday, September 26th. The stock was purchased at an average cost of $2.07 per share, with a total value of $41,400.00. Following the purchase, the insider now directly owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have bought 98,988 shares of company stock worth $200,689. Corporate 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.