Brightcove (BCOV) Updates FY 2019 Earnings Guidance

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Brightcove (NASDAQ:BCOV) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.02-0.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.01. The company issued revenue guidance of $183-186 million, compared to the consensus revenue estimate of $169.34 million.Brightcove also updated its Q2 2019 guidance to $-0.07–0.06 EPS.

Several research firms recently weighed in on BCOV. BidaskClub upgraded shares of Brightcove from a hold rating to a buy rating in a research report on Friday, March 1st. Northland Securities restated a buy rating on shares of Brightcove in a research report on Monday, April 15th. Finally, Zacks Investment Research upgraded shares of Brightcove from a hold rating to a buy rating and set a $9.75 price objective on the stock in a research report on Wednesday, February 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $12.35.

Shares of BCOV stock traded up $0.12 during trading on Wednesday, hitting $8.74. The company had a trading volume of 66,350 shares, compared to its average volume of 110,027. The stock has a market cap of $318.94 million, a price-to-earnings ratio of -32.37 and a beta of 1.04. Brightcove has a 52 week low of $6.88 and a 52 week high of $10.75.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, February 13th. The software maker reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). The company had revenue of $40.86 million during the quarter, compared to the consensus estimate of $41.23 million. Brightcove had a negative return on equity of 13.67% and a negative net margin of 8.51%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. Equities analysts anticipate that Brightcove will post -0.16 earnings per share for the current fiscal year.

In other news, CEO Jeff Ray bought 5,000 shares of the business’s stock in a transaction on Monday, February 25th. The stock was acquired at an average price of $8.45 per share, with a total value of $42,250.00. Following the completion of the purchase, the chief executive officer now directly owns 25,000 shares in the company, valued at $211,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in Brightcove stock. Geode Capital Management LLC boosted its position in Brightcove Inc (NASDAQ:BCOV) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,943 shares of the software maker’s stock after buying an additional 33,707 shares during the quarter. Geode Capital Management LLC owned approximately 1.16% of Brightcove worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 80.03% of the stock is currently owned by institutional investors.

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Brightcove Company Profile

Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.

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