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

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

Braze Price Performance

Shares of BRZE opened at $35.57 on Friday. The firm’s 50 day moving average is $41.21 and its 200-day moving average is $43.01. Braze has a 12-month low of $33.93 and a 12-month high of $61.53. The stock has a market capitalization of $3.61 billion, a P/E ratio of -27.79 and a beta of 1.07.

Insider Activity at Braze

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $43.41, for a total value of $195,345.00. Following the transaction, the chief financial officer now owns 216,208 shares in the company, valued at $9,385,589.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Braze news, CAO Pankaj Malik sold 2,618 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $35.23, for a total transaction of $92,232.14. Following the completion of the sale, the chief accounting officer now directly owns 76,623 shares of the company’s stock, valued at $2,699,428.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $43.41, for a total transaction of $195,345.00. Following the completion of the transaction, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at approximately $9,385,589.28. The disclosure for this sale can be found here. Insiders sold a total of 187,898 shares of company stock valued at $8,081,257 over the last ninety days. Insiders own 24.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup increased their price target on Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Oppenheimer restated an “outperform” rating and issued a $60.00 price target on shares of Braze in a report on Wednesday, June 12th. Piper Sandler reiterated an “overweight” rating and issued a $51.00 target price on shares of Braze in a report on Friday. DA Davidson restated a “buy” rating and set a $65.00 price target on shares of Braze in a research note on Friday. Finally, TD Cowen reduced their price objective on Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Seventeen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze currently has an average rating of “Buy” and an average target price 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.