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 EPS guidance of -0.020-0.000 for the period, compared to the consensus EPS 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 Trading Up 3.4 %

Brightcove stock traded up $0.07 during mid-day trading on Monday, reaching $2.14. The company’s stock had a trading volume of 73,271 shares, compared to its average volume of 227,632. The business has a 50 day moving average price of $2.17 and a 200-day moving average price of $2.15. Brightcove has a twelve month low of $1.55 and a twelve month high of $2.70. The firm has a market cap of $96.13 million, a price-to-earnings ratio of -10.70 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share (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 period last year, the firm posted ($0.07) EPS. On average, equities analysts expect that Brightcove will post -0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $1.98 per share, with a total value of $39,600.00. Following the completion of the purchase, the insider now directly owns 6,581,414 shares of the company’s stock, valued at $13,031,199.72. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 98,988 shares of company stock valued at $200,689 in the last 90 days. 3.70% of the stock is currently owned by 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.