Braze (NASDAQ:BRZE) Posts Earnings Results, Beats Expectations By $0.07 EPS

Braze (NASDAQ:BRZE) announced its quarterly earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07, Briefing.com reports. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) EPS.

Braze Stock Performance

Shares of BRZE stock traded up $2.41 during mid-day trading on Friday, hitting $39.11. The company’s stock had a trading volume of 3,027,244 shares, compared to its average volume of 1,134,644. The company has a market cap of $4.05 billion, a PE ratio of -34.24 and a beta of 1.17. The company’s fifty day simple moving average is $39.80 and its 200-day simple moving average is $37.97. Braze has a 52 week low of $29.18 and a 52 week high of $48.33.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BRZE shares. Citigroup boosted their target price on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler boosted their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. DA Davidson reiterated a “buy” rating and issued a $50.00 target price on shares of Braze in a research report on Wednesday. Macquarie boosted their price target on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Raymond James lowered their price objective on Braze from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, March 20th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $52.65.

Insider Activity at Braze

In other Braze news, CAO Pankaj Malik sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the transaction, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. The trade was a 6.33 % decrease in their ownership of the stock. 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 14,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.52, for a total transaction of $637,280.00. Following the sale, the general counsel now directly owns 199,520 shares of the company’s stock, valued at approximately $9,082,150.40. This trade represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock worth $3,841,921 in the last 90 days. Corporate insiders own 24.03% of the company’s stock.

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.