Brightcove (NASDAQ:BCOV) Issues Q3 2024 Earnings Guidance

Brightcove (NASDAQ:BCOV) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of -0.050–0.030 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

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

Brightcove Stock Performance

BCOV remained flat at $2.13 during trading on Wednesday. 144,596 shares of the company were exchanged, compared to its average volume of 259,480. The business’s fifty day moving average price is $2.28 and its 200 day moving average price is $2.11. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.22. The company has a market cap of $94.96 million, a PE ratio of -9.68 and a beta of 0.74.

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. The company had revenue of $50.48 million during the quarter. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. On average, equities analysts anticipate that Brightcove will post -0.31 EPS for the current year.

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.