Braze (NASDAQ:BRZE) Issues Q3 2023 Earnings Guidance

Braze (NASDAQ:BRZEGet Rating) issued an update on its third quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of -$0.23–$0.22 for the period, compared to the consensus earnings per share estimate of -$0.20. The company issued revenue guidance of $90.00 million-$91.00 million, compared to the consensus revenue estimate of $90.03 million. Braze also updated its FY 2023 guidance to -$0.79–$0.77 EPS.

Braze Price Performance

NASDAQ BRZE opened at $35.48 on Wednesday. Braze has a 1-year low of $27.09 and a 1-year high of $98.78. The company has a market cap of $3.34 billion and a P/E ratio of -20.39. The stock has a 50-day moving average of $43.27 and a two-hundred day moving average of $39.63.

Braze (NASDAQ:BRZEGet Rating) last released its earnings results on Monday, September 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. The business had revenue of $86.13 million for the quarter, compared to analyst estimates of $81.16 million. Braze had a negative return on equity of 35.25% and a negative net margin of 41.54%. The business’s revenue was up 54.5% on a year-over-year basis. On average, analysts anticipate that Braze will post -1.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BRZE has been the subject of several research reports. Cowen cut their price objective on Braze from $54.00 to $50.00 and set an outperform rating for the company in a research report on Tuesday, September 13th. Piper Sandler upped their target price on shares of Braze from $42.00 to $47.00 and gave the company an overweight rating in a report on Tuesday, September 13th. JPMorgan Chase & Co. reduced their price objective on shares of Braze from $65.00 to $42.00 in a research note on Tuesday, June 14th. Loop Capital reduced their price target on Braze from $75.00 to $50.00 and set a buy rating on the stock in a research note on Wednesday, June 15th. Finally, Cowen dropped their target price on Braze from $54.00 to $50.00 and set an outperform rating for the company in a research note on Tuesday, September 13th. Sixteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $54.00.

Insider Buying and Selling

In other Braze news, CTO Jonathan Hyman sold 10,000 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Iconiq Strategic Partners Vi, purchased 152,374 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were bought at an average price of $35.00 per share, with a total value of $5,333,090.00. Following the completion of the transaction, the insider now directly owns 474,764 shares in the company, valued at approximately $16,616,740. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jonathan Hyman sold 10,000 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 581,564 shares of company stock valued at $20,361,014 and have sold 165,848 shares valued at $7,171,451. 32.14% of the stock is owned by corporate insiders.

Institutional Trading of Braze

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in Braze in the first quarter valued at about $370,000. Bank of Montreal Can grew its holdings in Braze by 81.7% during the 1st quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock worth $4,645,000 after acquiring an additional 46,591 shares during the last quarter. BlackRock Inc. increased its position in Braze by 2,301.3% in the 1st quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock valued at $5,111,000 after acquiring an additional 118,101 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Braze by 8.7% in the first quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock valued at $424,000 after purchasing an additional 820 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Braze by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock worth $28,860,000 after purchasing an additional 124,741 shares during the last quarter. 39.38% of the stock is currently owned by institutional investors.

Braze Company Profile

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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.

See Also

Earnings History and Estimates for Braze (NASDAQ:BRZE)

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