Braze (NASDAQ:BRZE) Announces Earnings Results

Braze (NASDAQ:BRZE) issued its quarterly earnings results on Thursday. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year.

Braze Trading Up 5.5 %

Shares of BRZE stock traded up $2.00 during midday trading on Friday, reaching $38.70. 3,206,389 shares of the stock were exchanged, compared to its average volume of 1,241,808. Braze has a 1 year low of $29.18 and a 1 year high of $48.33. The firm has a market cap of $4.00 billion, a PE ratio of -34.01 and a beta of 1.17. The company’s 50 day moving average is $39.80 and its two-hundred day moving average is $37.97.

Analyst Ratings Changes

BRZE has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a “buy” rating in a research note on Friday. Macquarie increased their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, DA Davidson restated a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Wednesday. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Braze has an average rating of “Buy” and an average target price of $52.65.

Insider Activity

In other Braze news, insider Myles Kleeger sold 8,365 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the sale, the insider now owns 168,882 shares in the company, valued at approximately $6,775,545.84. This represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. Following the transaction, the general counsel now owns 189,520 shares of the company’s stock, valued at $8,949,134.40. The trade was a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock worth $3,841,921 in the last quarter. 24.03% of the stock is owned by company insiders.

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.