Braze (NASDAQ:BRZE) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Braze (NASDAQ:BRZE) issued its quarterly earnings data on Thursday. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12, Briefing.com reports. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The firm had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the prior year, the business posted ($0.30) EPS. The firm’s quarterly revenue was up 26.4% on a year-over-year basis.

Braze Stock Down 19.4 %

BRZE stock opened at $35.57 on Friday. Braze has a 52-week low of $33.93 and a 52-week high of $61.53. The company’s 50-day simple moving average is $41.21 and its 200-day simple moving average is $43.01. The firm has a market cap of $3.61 billion, a P/E ratio of -27.79 and a beta of 1.07.

Analyst Ratings Changes

A number of analysts have recently weighed in on BRZE shares. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Braze in a report on Friday. Piper Sandler reissued an “overweight” rating and set a $51.00 target price on shares of Braze in a research report on Friday. TD Cowen decreased their price target on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a report on Friday, May 31st. Barclays dropped their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, BTIG Research reduced their target price on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat, Braze currently has a consensus rating of “Buy” and a consensus price target of $60.50.

Insider Buying and Selling

In other Braze news, General Counsel Susan Wiseman sold 8,553 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $44.31, for a total value of $378,983.43. Following the sale, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,169,068.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 8,553 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $44.31, for a total transaction of $378,983.43. Following the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,169,068.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Myles Kleeger sold 9,178 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $379,693.86. Following the sale, the insider now directly owns 206,340 shares of the company’s stock, valued at approximately $8,536,285.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,898 shares of company stock valued at $8,081,257. 24.03% of the stock is owned by company insiders.

Braze Company Profile

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.