Braze (NASDAQ:BRZE) Posts Earnings Results, Beats Expectations By $0.02 EPS

Braze (NASDAQ:BRZEGet Rating) released 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.

Shares of BRZE stock traded up $1.69 during mid-day trading on Wednesday, hitting $33.74. The company’s stock had a trading volume of 65,117 shares, compared to its average volume of 648,159. Braze has a 52-week low of $27.09 and a 52-week high of $98.78. The business has a 50-day moving average price of $36.69 and a 200 day moving average price of $48.59.

In related news, Director Douglas A. Pepper bought 175,169 shares of the business’s stock in a transaction on Wednesday, April 6th. The stock was acquired at an average price of $37.37 per share, with a total value of $6,546,065.53. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Isabelle Winkles sold 65,000 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $41.20, for a total value of $2,678,000.00. Following the completion of the transaction, the chief financial officer now owns 20,491 shares in the company, valued at $844,229.20. The disclosure for this sale can be found here. Insiders have purchased 308,867 shares of company stock worth $11,554,072 over the last ninety days. 32.14% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of Braze by 50,225.0% during 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 in the last quarter. Millennium Management LLC purchased a new position in Braze during the fourth quarter valued at approximately $324,000. Geode Capital Management LLC bought a new position in shares of Braze in the fourth quarter worth approximately $328,000. BlackRock Inc. purchased a new stake in shares of Braze in the fourth quarter worth $396,000. Finally, Stifel Financial Corp bought a new stake in shares of Braze during the 4th quarter valued at $532,000. Institutional investors and hedge funds own 23.64% of the company’s stock.

A number of equities analysts have issued reports on BRZE shares. Cowen decreased their price objective on shares of Braze from $72.00 to $60.00 in a research report on Tuesday. Cowen reduced their price target on Braze from $72.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday. Loop Capital dropped their price objective on Braze from $75.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group reduced their target price on Braze from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, March 31st. Finally, Raymond James dropped their price target on Braze from $65.00 to $40.00 in a research note on Tuesday. Fifteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.64.

About Braze (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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