Brightcove (BCOV) Set to Announce Quarterly Earnings on Wednesday

Brightcove (NASDAQ:BCOV) will be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Brightcove has set its FY 2024 guidance at -0.100–0.050 EPS and its Q1 2024 guidance at -0.010-0.020 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $50.16 million during the quarter. Brightcove had a negative return on equity of 17.02% and a negative net margin of 11.38%.

Brightcove Stock Performance

Shares of BCOV opened at $1.88 on Tuesday. The stock’s 50-day simple moving average is $1.88 and its 200 day simple moving average is $2.26. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.56. The stock has a market capitalization of $83.49 million, a price-to-earnings ratio of -3.48 and a beta of 0.66.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BCOV shares. Rosenblatt Securities reduced their price target on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. StockNews.com raised Brightcove from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Finally, Lake Street Capital reissued a “hold” rating and set a $3.00 price objective on shares of Brightcove in a report on Friday, February 23rd.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were purchased at an average cost of $1.88 per share, with a total value of $56,400.00. Following the completion of the purchase, the insider now owns 6,435,437 shares of the company’s stock, valued at approximately $12,098,621.56. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders purchased 56,541 shares of company stock worth $102,598. Corporate insiders own 4.20% 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.