Brightcove Inc. (NASDAQ:BCOV) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.03-0.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.02. The company issued revenue guidance of $37-37.75 million, compared to the consensus revenue estimate of $39.50 million.Brightcove also updated its FY16 guidance to $0.07-0.14 EPS.

Brightcove Inc. (NASDAQ:BCOV) traded up 7.04% during mid-day trading on Thursday, reaching $7.60. 284,919 shares of the company’s stock were exchanged. Brightcove Inc. has a 12 month low of $5.60 and a 12 month high of $13.80. The stock has a 50-day moving average of $7.61 and a 200-day moving average of $10.07. The firm’s market cap is $256.75 million.

Separately, B. Riley reaffirmed a buy rating and set a $15.50 price target on shares of Brightcove in a report on Thursday, November 3rd. Five investment analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average target price of $13.63.

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About Brightcove

Brightcove Inc is a provider of cloud-based services for video. The Company’s flagship product is Brightcove Video Cloud (Video Cloud), an online video platform. Its other products include Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Gallery (Gallery), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite) and Brightcove Lift (Lift).

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