Brightcove (NASDAQ:BCOV) Updates Q4 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of -0.040–0.010 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

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

Brightcove Price Performance

NASDAQ:BCOV traded up $0.07 during mid-day trading on Monday, hitting $2.14. 363,285 shares of the company’s stock were exchanged, compared to its average volume of 227,632. The company has a market cap of $96.13 million, a PE ratio of -10.70 and a beta of 0.74. Brightcove has a one year low of $1.55 and a one year high of $2.70. The business has a fifty day moving average price of $2.17 and a 200 day moving average price of $2.15.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $49.25 million for the quarter. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, equities analysts forecast that Brightcove will post -0.32 EPS for the current fiscal year.

Insider Transactions at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price of $2.07 per share, for a total transaction 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. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 98,988 shares of company stock valued at $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.