Braze (NASDAQ:BRZE) Posts Earnings Results, Beats Estimates By $0.01 EPS

Braze (NASDAQ:BRZEGet Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01, reports. The firm had revenue of $135.46 million during the quarter, compared to analyst estimates of $131.56 million. Braze had a negative return on equity of 27.77% and a negative net margin of 25.06%.

Braze Price Performance

Shares of BRZE opened at $36.65 on Friday. Braze has a 1-year low of $33.59 and a 1-year high of $61.53. The company’s fifty day moving average price is $41.00 and its 200-day moving average price is $49.45.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Scotiabank dropped their price target on Braze from $58.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, June 3rd. TD Cowen decreased their price objective on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Canaccord Genuity Group raised their price objective on shares of Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research note on Friday. Finally, Wells Fargo & Company decreased their price objective on shares of Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

View Our Latest Analysis on BRZE

Insider Activity

In other news, CTO Jonathan Hyman sold 1,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.44, for a total transaction of $42,440.00. Following the sale, the chief technology officer now directly owns 183,258 shares of the company’s stock, valued at $7,777,469.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Braze news, CEO William Magnuson sold 17,839 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the sale, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at $25,835,868. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jonathan Hyman sold 1,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.44, for a total transaction of $42,440.00. Following the completion of the sale, the chief technology officer now directly owns 183,258 shares in the company, valued at $7,777,469.52. The disclosure for this sale can be found here. Insiders have sold 79,114 shares of company stock valued at $3,344,997 over the last ninety days. 24.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Braze

Several hedge funds have recently added to or reduced their stakes in BRZE. Principal Financial Group Inc. purchased a new stake in Braze in the third quarter valued at $4,377,000. abrdn plc acquired a new position in shares of Braze in the third quarter worth about $289,000. Arizona State Retirement System raised its position in shares of Braze by 4.6% in the third quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock worth $552,000 after acquiring an additional 524 shares during the period. Barclays PLC raised its position in shares of Braze by 18.7% in the third quarter. Barclays PLC now owns 16,781 shares of the company’s stock worth $784,000 after acquiring an additional 2,639 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Braze by 42.5% in the third quarter. New York State Common Retirement Fund now owns 19,528 shares of the company’s stock worth $913,000 after acquiring an additional 5,828 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Company Profile

(Get Free Report)

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.

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Earnings History for Braze (NASDAQ:BRZE)

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