Braze (NASDAQ:BRZE) Issues FY 2023 Earnings Guidance

Braze (NASDAQ:BRZEGet Rating) updated its FY 2023 earnings guidance on Monday. The company provided EPS guidance of -$0.82–$0.78 for the period, compared to the consensus EPS estimate of -$0.83. The company issued revenue guidance of $345.00 million-$349.00 million, compared to the consensus revenue estimate of $340.29 million. Braze also updated its Q2 2023 guidance to -$0.20–$0.19 EPS.

A number of research analysts recently issued reports on the company. Cowen reduced their price target on Braze from $72.00 to $60.00 and set an outperform rating on the stock in a report on Tuesday, June 14th. Canaccord Genuity Group reduced their target price on Braze from $85.00 to $60.00 and set a buy rating on the stock in a report on Thursday, March 31st. JPMorgan Chase & Co. reduced their target price on Braze from $65.00 to $42.00 in a report on Tuesday, June 14th. Barclays reduced their target price on Braze from $75.00 to $50.00 and set an overweight rating on the stock in a report on Wednesday, June 15th. Finally, The Goldman Sachs Group reduced their target price on Braze from $65.00 to $56.00 and set a buy rating on the stock in a report on Wednesday, June 15th. Fifteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $53.64.

Shares of BRZE opened at $33.18 on Monday. The business’s 50 day moving average price is $36.43 and its 200-day moving average price is $47.62. Braze has a 52 week low of $27.09 and a 52 week high of $98.78.

Braze (NASDAQ:BRZEGet Rating) last issued its quarterly earnings results on Monday, June 13th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. As a group, analysts forecast that Braze will post -1.5 earnings per share for the current fiscal year.

In other news, CAO Pankaj Malik sold 5,943 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $31.53, for a total transaction of $187,382.79. Following the transaction, the chief accounting officer now directly owns 80,360 shares of the company’s stock, valued at approximately $2,533,750.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Iconiq Strategic Partners Vi, purchased 17,172 shares of the stock in a transaction dated Friday, April 8th. The shares were purchased at an average cost of $37.58 per share, for a total transaction of $645,323.76. Following the completion of the acquisition, the insider now directly owns 322,390 shares in the company, valued at $12,115,416.20. The disclosure for this purchase can be found here. Insiders have bought a total of 308,867 shares of company stock worth $11,554,072 over the last three months. Insiders own 32.14% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its stake in Braze by 50,225.0% during the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock worth $83,000 after acquiring an additional 2,009 shares during the period. Millennium Management LLC bought a new stake in Braze during the 4th quarter worth approximately $324,000. Geode Capital Management LLC bought a new stake in Braze during the 4th quarter worth approximately $328,000. Dynamic Technology Lab Private Ltd bought a new stake in Braze during the 1st quarter worth approximately $346,000. Finally, Bank of New York Mellon Corp bought a new stake in Braze during the 1st quarter worth approximately $370,000. Institutional investors and hedge funds own 23.64% of the company’s stock.

Braze Company Profile (Get Rating)

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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Earnings History and Estimates for Braze (NASDAQ:BRZE)

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