Braze (NASDAQ:BRZE) Posts Earnings Results, Beats Expectations By $0.07 EPS

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

Braze Price Performance

Shares of NASDAQ:BRZE traded up $2.03 during trading on Friday, reaching $38.73. The company had a trading volume of 2,351,256 shares, compared to its average volume of 1,132,038. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -33.97 and a beta of 1.17. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $48.33. The stock’s fifty day moving average price is $39.80 and its 200 day moving average price is $37.97.

Analysts Set New Price Targets

A number of research analysts have commented on BRZE shares. Raymond James decreased 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. Citigroup lifted their target price on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Piper Sandler increased 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. Wells Fargo & Company reissued an “overweight” rating and set a $55.00 price objective (up from $50.00) on shares of Braze in a research report on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $52.65.

Insider Transactions at Braze

In other news, 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 completion of the transaction, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This represents a 6.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 8,365 shares of Braze stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the sale, the insider now owns 168,882 shares in the company, valued at approximately $6,775,545.84. This trade represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,470 shares of company stock worth $3,841,921. Company insiders own 24.03% of the company’s stock.

Braze Company Profile

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.