Braze (NASDAQ:BRZE) Releases Earnings Results, Beats Estimates By $0.07 EPS

Braze (NASDAQ:BRZE) released its quarterly earnings data on Thursday. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07, Briefing.com reports. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same period in the previous year, the business earned ($0.04) EPS. Braze’s revenue for the quarter was up 22.4% compared to the same quarter last year.

Braze Stock Performance

Shares of NASDAQ BRZE traded up $2.41 during mid-day trading on Friday, reaching $39.11. The company had a trading volume of 3,027,244 shares, compared to its average volume of 1,134,644. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -34.24 and a beta of 1.17. The business’s 50-day simple moving average is $39.80 and its 200 day simple moving average is $37.97. Braze has a one year low of $29.18 and a one year high of $48.33.

Insider Buying and Selling

In other news, CEO William Magnuson sold 18,050 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the sale, the chief accounting officer now owns 54,784 shares in the company, valued at $2,507,463.68. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock valued at $3,841,921 over the last quarter. 24.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BRZE shares. Macquarie upped their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Raymond James dropped their price target on Braze from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 price objective (up from $50.00) on shares of Braze in a research report on Friday. Piper Sandler increased their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Braze in a report on Friday. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Braze presently has an average rating of “Buy” and an average price target of $52.65.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.