Brightcove (BCOV) Updates FY18 Earnings Guidance

Brightcove (NASDAQ:BCOV) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.06)-$0.02 for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.01). The company issued revenue guidance of $165-168 million, compared to the consensus revenue estimate of $166.79 million.Brightcove also updated its Q2 guidance to ($0.07)-($0.06) EPS.

A number of research firms have recently issued reports on BCOV. BidaskClub raised shares of Brightcove from a sell rating to a hold rating in a report on Friday, February 23rd. Zacks Investment Research raised shares of Brightcove from a hold rating to a buy rating and set a $8.00 price objective for the company in a report on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Brightcove currently has an average rating of Hold and a consensus price target of $8.31.

Shares of NASDAQ BCOV traded up $0.10 during mid-day trading on Thursday, reaching $8.00. 187,036 shares of the company were exchanged, compared to its average volume of 185,442. Brightcove has a 52 week low of $5.40 and a 52 week high of $8.85. The company has a market capitalization of $271.12, a P/E ratio of -16.67 and a beta of 1.76.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Thursday, April 26th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Brightcove had a negative net margin of 12.52% and a negative return on equity of 23.20%. The company had revenue of $41.20 million during the quarter, compared to the consensus estimate of $40.19 million. During the same period in the previous year, the firm posted ($0.08) EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. sell-side analysts predict that Brightcove will post -0.23 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Brightcove stock. The Manufacturers Life Insurance Company lifted its stake in shares of Brightcove (NASDAQ:BCOV) by 22.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 29,591 shares of the software maker’s stock after acquiring an additional 5,494 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Brightcove worth $183,000 as of its most recent SEC filing. Institutional investors and hedge funds own 62.10% of the company’s stock.

Brightcove Company Profile

Brightcove Inc provides cloud-based services for video. The company offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. Its Video Cloud platform offers various features and functionalities, such as uploading and encoding, content management, video player technology, multi-platform video experiences, live video streaming, distribution and syndication, social media, advertising and monetization, and analytics, as well as APIs, SDKs, and developer resources.

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