Brightcove shares are trading lower after the company reported Q4 financial results and issued FY24 guidance below estimates. Rosenblatt lowered its price target from $7.5 to $5 on the stock and Lake Street downgraded its price target from Buy to Hold.
Portfolio Pulse from Benzinga Newsdesk
Brightcove's stock trades lower following Q4 financial results and FY24 guidance below expectations. Rosenblatt and Lake Street adjusted their price targets and ratings, indicating a bearish outlook.
February 23, 2024 | 7:04 pm
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NEGATIVE IMPACT
Brightcove's shares declined after reporting lower-than-expected Q4 results and FY24 guidance, accompanied by negative adjustments from Rosenblatt and Lake Street.
The negative reaction in Brightcove's stock price is directly tied to the disappointing Q4 financial results and the FY24 guidance that fell short of market expectations. The downgrades and lowered price targets from Rosenblatt and Lake Street further contribute to a bearish outlook, likely influencing investor sentiment and stock performance in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100