Braze (NASDAQ:BRZE – Get Rating) posted its earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04, MarketWatch Earnings reports. The business had revenue of $86.13 million during the quarter, compared to analysts’ expectations of $81.16 million. The company’s revenue for the quarter was up 54.5% compared to the same quarter last year. Braze updated its Q3 guidance to $(0.23)-$(0.22) EPS and its FY23 guidance to $(0.79)-$(0.77) EPS.
Braze Stock Up 0.6 %
BRZE traded up $0.24 during midday trading on Monday, hitting $43.58. The stock had a trading volume of 554,325 shares, compared to its average volume of 645,262. Braze has a 1 year low of $27.09 and a 1 year high of $98.78. The business has a fifty day moving average of $44.17 and a 200 day moving average of $39.84.
Wall Street Analyst Weigh In
BRZE has been the topic of a number of analyst reports. Cowen lowered their target price on shares of Braze from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, June 23rd. JMP Securities dropped their price objective on Braze from $75.00 to $52.00 and set a “market outperform” rating on the stock in a report on Tuesday, June 14th. UBS Group assumed coverage on Braze in a research report on Tuesday, July 12th. They set a “buy” rating and a $53.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of Braze from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, June 15th. Finally, Piper Sandler reduced their price objective on shares of Braze from $65.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, June 14th. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat, Braze has an average rating of “Buy” and a consensus price target of $52.80.
Insiders Place Their Bets
Institutional Investors Weigh In On Braze
Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Braze by 54.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 847,360 shares of the company’s stock worth $30,700,000 after buying an additional 298,790 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Braze by 215.8% in the second quarter. Goldman Sachs Group Inc. now owns 391,081 shares of the company’s stock worth $14,169,000 after acquiring an additional 267,238 shares during the period. FMR LLC increased its position in Braze by 472.3% during the 2nd quarter. FMR LLC now owns 291,855 shares of the company’s stock valued at $10,574,000 after purchasing an additional 240,855 shares during the period. Vanguard Group Inc. increased its position in Braze by 21.8% during the 1st quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock valued at $28,860,000 after purchasing an additional 124,741 shares during the period. Finally, BlackRock Inc. raised its holdings in Braze by 2,301.3% in the 1st quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock worth $5,111,000 after purchasing an additional 118,101 shares in the last quarter. Institutional investors own 39.38% of the company’s stock.
Braze Company Profile
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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