Brightcove (NASDAQ:BCOV) Updates Q3 2019 Earnings Guidance

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Brightcove (NASDAQ:BCOV) issued an update on its third quarter 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.02-0.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.02. The company issued revenue guidance of $47-47.5 million, compared to the consensus revenue estimate of $47.44 million.Brightcove also updated its FY 2019 guidance to $0.06-0.10 EPS.

Shares of BCOV stock traded down $0.15 during mid-day trading on Friday, hitting $11.79. 151,728 shares of the stock traded hands, compared to its average volume of 132,173. The stock has a market capitalization of $446.13 million, a PE ratio of -43.67 and a beta of 0.98. The stock’s fifty day moving average price is $10.58. Brightcove has a 52-week low of $6.88 and a 52-week high of $12.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Wednesday, July 24th. The software maker reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The firm had revenue of $47.58 million during the quarter, compared to analyst estimates of $45.74 million. Brightcove had a negative net margin of 10.70% and a negative return on equity of 12.29%. Brightcove’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. As a group, sell-side analysts expect that Brightcove will post -0.13 earnings per share for the current fiscal year.

BCOV has been the subject of several research analyst reports. B. Riley reaffirmed a buy rating on shares of Brightcove in a research report on Tuesday. BidaskClub lowered shares of Zebra Technologies from a buy rating to a hold rating in a research report on Tuesday, July 16th. Northland Securities reaffirmed a buy rating and issued a $14.00 price objective on shares of Brightcove in a research report on Thursday, May 16th. ValuEngine lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, July 17th. Finally, Zacks Investment Research lowered shares of Hallmark Financial Services from a buy rating to a hold rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $13.00.

About Brightcove

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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