Braze (NASDAQ:BRZE) Releases Earnings Results

Braze (NASDAQ:BRZE – Get Rating) issued its earnings results on Monday. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02, Fidelity Earnings reports.

Braze stock opened at $32.05 on Wednesday. Braze has a 52-week low of $27.09 and a 52-week high of $98.78. The stock’s 50 day moving average price is $36.69 and its two-hundred day moving average price is $48.59.

A number of equities research analysts have weighed in on BRZE shares. JMP Securities reduced their target price on Braze from $75.00 to $52.00 and set a “market outperform” rating on the stock in a report on Tuesday. Cowen dropped their price target on Braze from $72.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on Braze from $65.00 to $42.00 in a research note on Tuesday. Loop Capital dropped their price target on Braze from $90.00 to $75.00 in a research note on Thursday, March 31st. Finally, Piper Sandler dropped their price target on Braze from $65.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday. Fifteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $57.50.

In other news, CFO Isabelle Winkles sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $41.20, for a total transaction of $2,678,000.00. Following the transaction, the chief financial officer now directly owns 20,491 shares of the company’s stock, valued at $844,229.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Pankaj Malik sold 5,943 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $31.53, for a total value of $187,382.79. Following the transaction, the chief accounting officer now directly owns 80,360 shares in the company, valued at $2,533,750.80. The disclosure for this sale can be found here. Insiders have acquired a total of 308,867 shares of company stock worth $11,554,072 over the last 90 days. Company insiders own 32.14% of the company’s stock.

Several large investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in Braze by 50,225.0% in the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock valued at $83,000 after buying an additional 2,009 shares during the last quarter. Millennium Management LLC purchased a new stake in Braze in the 4th quarter valued at $324,000. Geode Capital Management LLC purchased a new stake in Braze in the 4th quarter valued at $328,000. Dynamic Technology Lab Private Ltd purchased a new stake in Braze in the 1st quarter valued at $346,000. Finally, Bank of New York Mellon Corp purchased a new stake in Braze in the 1st quarter valued at $370,000. 23.64% of the stock is currently owned by institutional investors.

Braze Company Profile (Get Rating)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.

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