Brightcove (NASDAQ:BCOV) Updates Q4 2024 Earnings Guidance

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

Brightcove stock traded up $0.07 during midday trading on Monday, hitting $2.14. 363,285 shares of the company’s stock were exchanged, compared to its average volume of 227,632. Brightcove has a 52-week low of $1.55 and a 52-week high of $2.70. The company has a market cap of $96.13 million, a P/E ratio of -10.70 and a beta of 0.74. The stock 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) earnings per share (EPS) for the quarter, topping 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 business had revenue of $49.25 million during the quarter. During the same period in the prior year, the company earned ($0.07) EPS. As a group, sell-side analysts expect that Brightcove will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $1.98 per share, for a total transaction of $39,600.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have acquired 98,988 shares of company stock worth $200,689. 3.70% of the stock is currently owned by insiders.

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.