Braze (NASDAQ:BRZE) Announces Quarterly Earnings Results, Hits Expectations

Braze (NASDAQ:BRZE) released its quarterly earnings data on Wednesday. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10, FiscalAI reports. The business had revenue of $211.00 million for the quarter, compared to analyst estimates of $205.19 million. Braze had a negative return on equity of 18.75% and a negative net margin of 17.78%.

Braze Price Performance

Shares of Braze stock traded down $0.87 during midday trading on Wednesday, reaching $24.58. The company had a trading volume of 5,272,896 shares, compared to its average volume of 3,147,499. The stock has a fifty day moving average price of $21.91 and a 200 day moving average price of $24.55. The firm has a market cap of $2.79 billion, a PE ratio of -20.15 and a beta of 0.78. Braze has a fifty-two week low of $15.26 and a fifty-two week high of $37.67.

Insider Activity at Braze

In related news, General Counsel Susan Wiseman sold 35,000 shares of Braze stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $20.29, for a total value of $710,150.00. Following the transaction, the general counsel directly owned 209,424 shares of the company’s stock, valued at $4,249,212.96. The trade was a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings in Braze by 3,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock worth $28,000 after purchasing an additional 803 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after purchasing an additional 1,404 shares in the last quarter. Quarry LP bought a new stake in Braze in the third quarter worth approximately $46,000. Kemnay Advisory Services Inc. bought a new stake in Braze in the fourth quarter worth approximately $52,000. Finally, Quantbot Technologies LP bought a new stake in Braze in the third quarter worth approximately $163,000. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BRZE has been the topic of several research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Braze in a research note on Monday, March 23rd. TD Cowen cut their price target on Braze from $43.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Braze in a research note on Wednesday, March 25th. JPMorgan Chase & Co. lifted their price target on Braze from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. Finally, Stifel Nicolaus cut their price target on Braze from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Twenty-two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.90.

About Braze

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.