Braze (NASDAQ:BRZE) Posts Earnings Results, Beats Estimates By $0.01 EPS

Braze (NASDAQ:BRZEGet Free Report) issued its earnings results on Thursday. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01, reports. Braze had a negative net margin of 25.06% and a negative return on equity of 27.77%. The business had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million.

Braze Price Performance

Shares of BRZE stock opened at $36.65 on Friday. Braze has a 1-year low of $33.59 and a 1-year high of $61.53. The firm has a fifty day moving average of $41.15 and a two-hundred day moving average of $49.55.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of research reports. Canaccord Genuity Group raised their target price on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. BTIG Research cut their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. TD Cowen cut their target price on shares of Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Friday. Finally, Wells Fargo & Company lowered their price target on shares of Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, April 29th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Get Our Latest Stock Analysis on Braze

Insiders Place Their Bets

In other news, CAO Pankaj Malik sold 2,746 shares of Braze stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $114,672.96. Following the completion of the transaction, the chief accounting officer now directly owns 79,253 shares of the company’s stock, valued at approximately $3,309,605.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO William Magnuson sold 17,839 shares of Braze stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the completion of the transaction, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Pankaj Malik sold 2,746 shares of Braze stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $114,672.96. Following the completion of the transaction, the chief accounting officer now directly owns 79,253 shares of the company’s stock, valued at $3,309,605.28. The disclosure for this sale can be found here. Insiders sold a total of 79,114 shares of company stock valued at $3,344,997 in the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several hedge funds have recently bought and sold shares of BRZE. Principal Financial Group Inc. bought a new stake in Braze in the 3rd quarter valued at about $4,377,000. abrdn plc bought a new stake in Braze in the 3rd quarter valued at about $289,000. Arizona State Retirement System lifted its position in Braze by 4.6% in the 3rd quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock valued at $552,000 after purchasing an additional 524 shares during the last quarter. Barclays PLC lifted its position in Braze by 18.7% in the 3rd quarter. Barclays PLC now owns 16,781 shares of the company’s stock valued at $784,000 after purchasing an additional 2,639 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Braze by 42.5% during the 3rd quarter. New York State Common Retirement Fund now owns 19,528 shares of the company’s stock worth $913,000 after buying an additional 5,828 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

About Braze

(Get Free Report)

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.

Further Reading

Earnings History for Braze (NASDAQ:BRZE)

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