Braze (NASDAQ:BRZE) Announces Earnings Results, Beats Estimates By $0.12 EPS

Braze (NASDAQ:BRZE) posted its quarterly earnings results on Thursday. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12, Briefing.com reports. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the company earned ($0.30) earnings per share.

Braze Stock Performance

Shares of BRZE traded down $8.56 during trading hours on Friday, hitting $35.57. The company had a trading volume of 4,661,186 shares, compared to its average volume of 952,514. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -27.79 and a beta of 1.07. Braze has a 52-week low of $33.93 and a 52-week high of $61.53. The firm has a fifty day moving average price of $41.21 and a 200-day moving average price of $43.01.

Insider Transactions at Braze

In other news, CAO Pankaj Malik sold 2,618 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $35.23, for a total transaction of $92,232.14. Following the completion of the transaction, the chief accounting officer now directly owns 76,623 shares of the company’s stock, valued at $2,699,428.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction on Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the transaction, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Pankaj Malik sold 2,618 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $35.23, for a total value of $92,232.14. Following the completion of the sale, the chief accounting officer now owns 76,623 shares of the company’s stock, valued at $2,699,428.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,898 shares of company stock worth $8,081,257. Corporate insiders own 24.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BRZE shares. BTIG Research reduced their price target on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Braze in a research note on Friday. Citigroup raised their price target on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, June 7th. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research note on Friday. Finally, Canaccord Genuity Group raised their target price on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $60.50.

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.