Braze (NASDAQ:BRZE) Issues Quarterly Earnings Results, Misses Estimates By $0.35 EPS

Braze (NASDAQ:BRZE) issued its earnings results on Tuesday. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.35), Zacks reports. Braze had a negative net margin of 16.62% and a negative return on equity of 17.97%.

Braze Stock Up 2.1%

BRZE traded up $0.62 during trading on Tuesday, reaching $30.65. 4,458,631 shares of the stock traded hands, compared to its average volume of 1,534,583. The stock’s 50-day moving average is $27.95 and its 200 day moving average is $28.65. Braze has a 12 month low of $23.91 and a 12 month high of $48.33. The stock has a market capitalization of $3.41 billion, a PE ratio of -29.47 and a beta of 1.10.

Analyst Ratings Changes

BRZE has been the topic of a number of research reports. Mizuho boosted their price objective on Braze from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. UBS Group reduced their price target on Braze from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Barclays lifted their target price on shares of Braze from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Canaccord Genuity Group restated a “buy” rating and issued a $43.00 price target on shares of Braze in a research report on Friday, September 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Friday, September 5th. Nineteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and an average price target of $45.11.

Insider Activity at Braze

In related news, CTO Jonathan Hyman sold 9,789 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total transaction of $260,778.96. Following the completion of the sale, the chief technology officer owned 195,317 shares of the company’s stock, valued at $5,203,244.88. This trade represents a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 4,456 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $27.57, for a total transaction of $122,851.92. Following the sale, the general counsel directly owned 219,794 shares of the company’s stock, valued at approximately $6,059,720.58. This trade represents a 1.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,557 shares of company stock worth $1,856,089 over the last quarter. 18.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Braze

Institutional investors have recently made changes to their positions in the stock. Natixis Advisors LLC bought a new stake in Braze in the 3rd quarter valued at about $367,000. Captrust Financial Advisors increased its holdings in shares of Braze by 58.8% during the second quarter. Captrust Financial Advisors now owns 11,705 shares of the company’s stock valued at $329,000 after acquiring an additional 4,336 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Braze by 7.2% during the third quarter. Envestnet Asset Management Inc. now owns 11,080 shares of the company’s stock valued at $315,000 after acquiring an additional 746 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Braze by 1,353.0% during the second quarter. Russell Investments Group Ltd. now owns 9,619 shares of the company’s stock worth $270,000 after purchasing an additional 8,957 shares during the period. Finally, State of Wyoming lifted its holdings in shares of Braze by 218.1% in the 2nd quarter. State of Wyoming now owns 9,418 shares of the company’s stock worth $265,000 after purchasing an additional 6,457 shares in the last quarter. Institutional investors and hedge funds own 90.47% 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.