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

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

Braze Stock Down 19.4 %

Braze stock opened at $35.57 on Friday. The company has a fifty day simple moving average of $41.21 and a 200-day simple moving average of $43.01. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -27.79 and a beta of 1.07. Braze has a 52-week low of $33.93 and a 52-week high of $61.53.

Insider Transactions at Braze

In other Braze news, General Counsel Susan Wiseman sold 8,553 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $44.31, for a total value of $378,983.43. Following the completion of the sale, the general counsel now owns 206,930 shares in the company, valued at approximately $9,169,068.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Braze news, CAO Pankaj Malik sold 1,381 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total value of $56,786.72. Following the completion of the sale, the chief accounting officer now directly owns 72,980 shares of the company’s stock, valued at approximately $3,000,937.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 8,553 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $9,169,068.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,898 shares of company stock valued at $8,081,257. Corporate insiders own 24.03% of the company’s stock.

Analyst Upgrades and Downgrades

BRZE has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $51.00 price objective on shares of Braze in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Braze in a research report on Friday. Raymond James decreased their price objective on shares of Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, June 7th. Barclays dropped their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Citigroup lifted their price target on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $60.50.

About Braze

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.