Brightcove Inc. (BCOV) Issues FY16 Earnings Guidance

Posted by on Jul 30th, 2016

Brightcove Inc. (NASDAQ:BCOV) updated its FY16 earnings guidance on Thursday. The company provided EPS guidance of $0.05-0.08 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.06. The company issued revenue guidance of $148.3-149.3 million, compared to the consensus revenue estimate of $147.29 million.Brightcove also updated its Q3 guidance to $0.01-0.03 EPS.

Several equities analysts have commented on the stock. B. Riley reiterated a buy rating and issued a $9.40 price objective on shares of Brightcove in a report on Friday, April 29th. Zacks Investment Research upgraded shares of Brightcove from a hold rating to a buy rating and set a $9.50 price objective on the stock in a report on Tuesday, June 28th. Noble Financial started coverage on shares of Brightcove in a report on Friday, June 24th. They issued a buy rating on the stock. Finally, Dougherty & Co raised shares of Brightcove from a neutral rating to a buy rating and set a $10.50 target price for the company in a research report on Thursday, June 16th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $9.93.

Brightcove Inc. (NASDAQ:BCOV) traded up 0.31% during midday trading on Thursday, reaching $9.70. 185,911 shares of the company traded hands. Brightcove Inc. has a one year low of $4.70 and a one year high of $9.84. The firm’s market capitalization is $317.84 million. The firm has a 50-day moving average price of $8.78 and a 200-day moving average price of $6.69.

Brightcove (NASDAQ:BCOV) last announced its earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $36.96 million for the quarter, compared to analysts’ expectations of $36.07 million. During the same period in the prior year, the business earned ($0.04) earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts predict that Brightcove Inc. will post $0.06 EPS for the current fiscal year.

Brightcove Inc is a provider of cloud-based services for video. The Company’s flagship product is Brightcove Video Cloud (Video Cloud), an online video platform. Its other products include Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Gallery (Gallery), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite) and Brightcove Lift (Lift).