Brightcove Inc: Hits record high on Q4 results beat

Brightcove

18/02/2021 15:40

** Cloud-based services provider's shares  BCOV.O  rise as
much as 17.2% to a record high of $23.84  
    ** Co on Wednesday after-market close posted Q4 adj. profit
of $1.04/share, above estimates of 6 cents/share, according to
Refinitiv IBES data  urn:newsml:reuters.com:*:nBw7gVRz4a
    ** Reports Q4 revenue of $53.7 mln, beating expectations of
$49.8 mln
    ** Co's Q4 subscription and support revenue rose 14% to
$50.7 mln
    ** Expects Q1 revenue to be in range of $53 mln to $54 mln
vs $46.7 mln a year earlier
    ** Sees Q1 adj. profit in range of 9 cents/share to 11
cents/share vs 4 cents/share a year earlier
    ** At least 2 brokerages raise PT
    ** 4 of 4 brokerages rate the stock "buy" or higher; their
median PT is $22 -Refinitiv data
    ** BCOV shares are up 10.5% this year, as of last close 

 (Reporting by Lasya Priya M in Bengaluru)
 ((LasyaPriya.M@thomsonreuters.com;))