Brightcove (NASDAQ:BCOV) Issues Q3 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.050–0.030 for the period, compared to the consensus EPS estimate of -0.050. The company issued revenue guidance of $48.0 million-$49.0 million, compared to the consensus revenue estimate of $48.0 million. Brightcove also updated its FY 2024 guidance to -0.080–0.050 EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Brightcove from a strong-buy rating to a buy rating in a research report on Monday.

Brightcove Stock Performance

Shares of BCOV remained flat at $2.13 during trading hours on Wednesday. The stock had a trading volume of 144,596 shares, compared to its average volume of 259,480. The firm has a fifty day moving average of $2.28 and a 200 day moving average of $2.11. The company has a market cap of $94.96 million, a price-to-earnings ratio of -9.68 and a beta of 0.74. Brightcove has a one year low of $1.55 and a one year high of $4.22.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. The firm had revenue of $50.48 million for the quarter. Equities research analysts anticipate that Brightcove will post -0.31 earnings per share for the current fiscal year.

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.