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On Thursday (2/21), Brightcove (BCOV) reported somewhat disappointing 2019 fourth quarter performance and guidance which caused its stock to plummet 12.8% on the open and end the day down 7.2% (from the previous close). Yet, buyers emerged quickly after the stock got slammed at the open. The stock closed up 6.5% on the day from the opening low.
Revenues for the quarter were $47.6 million, up 16.5% vs. the prior year (due mostly to the acquisition of Ooyala), but at the low end of management’s guidance and 0.5% below consensus estimates. More importantly,