Brightcove (NASDAQ:BCOV) Releases FY22 Earnings Guidance

Brightcove (NASDAQ:BCOVGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.20-0.29 for the period, compared to the Thomson Reuters consensus estimate of $0.19. The company issued revenue guidance of $210-215 million, compared to the consensus revenue estimate of $209.78 million.Brightcove also updated its Q2 guidance to $0.04-0.06 EPS.

Several brokerages recently commented on BCOV. Zacks Investment Research raised Brightcove from a sell rating to a hold rating in a research report on Tuesday, March 1st. Lake Street Capital reissued a hold rating and set a $9.00 price target (down from $14.00) on shares of Brightcove in a research report on Thursday, February 17th. Finally, StockNews.com lowered Brightcove from a buy rating to a hold rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $19.50.

NASDAQ:BCOV traded down $0.14 on Friday, hitting $7.05. The company’s stock had a trading volume of 161,743 shares, compared to its average volume of 115,783. The stock has a fifty day moving average of $7.41 and a two-hundred day moving average of $9.09. The firm has a market capitalization of $292.79 million, a P/E ratio of -235.00 and a beta of 0.77. Brightcove has a one year low of $6.52 and a one year high of $15.56.

Brightcove (NASDAQ:BCOVGet Rating) last announced its earnings results on Wednesday, April 27th. The software maker reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. Brightcove had a positive return on equity of 4.07% and a negative net margin of 0.65%. During the same quarter last year, the company earned $0.10 EPS. On average, equities research analysts anticipate that Brightcove will post -0.1 EPS for the current fiscal year.

In related news, Director Ritcha Ranjan acquired 7,000 shares of the stock in a transaction on Tuesday, March 8th. The shares were purchased at an average price of $7.05 per share, for a total transaction of $49,350.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Edenbrook Capital, Llc acquired 4,900 shares of the stock in a transaction on Wednesday, April 27th. The shares were bought at an average price of $6.62 per share, for a total transaction of $32,438.00. Following the purchase, the insider now owns 4,732,619 shares in the company, valued at $31,329,937.78. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 18,100 shares of company stock worth $130,768. 3.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of Brightcove by 56.0% during the 3rd quarter. Royal Bank of Canada now owns 4,296 shares of the software maker’s stock valued at $49,000 after acquiring an additional 1,543 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Brightcove by 428.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,720 shares of the software maker’s stock valued at $89,000 after acquiring an additional 6,259 shares in the last quarter. Citigroup Inc. lifted its holdings in Brightcove by 102.4% during the 4th quarter. Citigroup Inc. now owns 11,011 shares of the software maker’s stock worth $113,000 after buying an additional 5,572 shares during the period. MetLife Investment Management LLC lifted its holdings in Brightcove by 74.8% during the 4th quarter. MetLife Investment Management LLC now owns 14,296 shares of the software maker’s stock worth $146,000 after buying an additional 6,118 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Brightcove by 106.8% during the 4th quarter. Bank of America Corp DE now owns 38,505 shares of the software maker’s stock worth $394,000 after buying an additional 19,884 shares during the period. Hedge funds and other institutional investors own 83.33% of the company’s stock.

Brightcove Company Profile (Get Rating)

Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on multiple monetization models; Brightcove Player, a video player technology with a cloud-based service for creating and managing experiences; and Zencoder, a cloud-based video encoding technology.

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