Braze (NASDAQ:BRZE) Issues Quarterly Earnings Results

Braze (NASDAQ:BRZE) issued its earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07, Briefing.com reports. The company had revenue of $160.40 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company posted ($0.04) earnings per share.

Braze Stock Performance

Braze stock traded up $2.03 during midday trading on Friday, reaching $38.73. The stock had a trading volume of 2,351,256 shares, compared to its average volume of 1,132,038. The stock has a market capitalization of $4.01 billion, a PE ratio of -33.97 and a beta of 1.17. The stock’s 50-day simple moving average is $39.80 and its 200 day simple moving average is $37.97. Braze has a twelve month low of $29.18 and a twelve month high of $48.33.

Insider Transactions at Braze

In other news, insider Myles Kleeger sold 10,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.43, for a total value of $454,300.00. Following the transaction, the insider now owns 184,396 shares of the company’s stock, valued at approximately $8,377,110.28. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Magnuson sold 18,050 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the sale, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. 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 three months. 24.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BRZE has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Braze in a research note on Friday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 price target (up previously from $50.00) on shares of Braze in a research note on Friday. Raymond James lowered their price objective on shares of Braze from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, March 20th. Citigroup lifted their target price on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Macquarie increased their price target on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $52.65.

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.