Braze (NASDAQ:BRZE) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Braze (NASDAQ:BRZE) released its quarterly earnings results on Thursday. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12, Briefing.com reports. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.30) earnings per share.

Braze Stock Performance

BRZE traded down $8.56 during midday trading on Friday, reaching $35.57. 4,661,186 shares of the company were exchanged, compared to its average volume of 952,514. The stock has a market capitalization of $3.61 billion, a P/E ratio of -27.79 and a beta of 1.07. Braze has a one year low of $33.93 and a one year high of $61.53. The stock’s 50-day simple moving average is $41.21 and its 200 day simple moving average is $43.01.

Insider Activity at Braze

In related news, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the completion of the transaction, the chief financial officer now owns 242,627 shares in the company, valued at $9,477,010.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the completion of the transaction, the chief financial officer now directly owns 242,627 shares in the company, valued at approximately $9,477,010.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Myles Kleeger sold 50,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00. Following the sale, the insider now directly owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The disclosure for this sale can be found here. Insiders have sold 187,898 shares of company stock worth $8,081,257 in the last ninety days. Company insiders own 24.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group raised their price target on Braze from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 7th. Raymond James cut their price target on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. JMP Securities reissued a “market outperform” rating and set a $68.00 price objective on shares of Braze in a report on Friday. Scotiabank raised shares of Braze from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Braze in a research report on Friday. Seventeen analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze has an average rating of “Buy” and a consensus price target of $60.50.

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.