Braze (NASDAQ:BRZE) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

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

Braze Stock Down 19.4 %

BRZE stock traded down $8.56 during midday trading on Friday, reaching $35.57. 4,661,186 shares of the company’s stock traded hands, compared to its average volume of 952,514. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -27.79 and a beta of 1.07. The company has a 50-day simple moving average of $41.21 and a two-hundred day simple moving average of $43.01. Braze has a 1-year low of $33.93 and a 1-year high of $61.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Citigroup increased their price objective on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Piper Sandler reiterated an “overweight” rating and set a $51.00 target price on shares of Braze in a research note on Friday. Canaccord Genuity Group boosted their price objective on shares of Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $68.00 price objective on shares of Braze in a report on Friday. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $60.50.

Insider Transactions at Braze

In other Braze news, CAO Pankaj Malik sold 2,618 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $35.23, for a total transaction of $92,232.14. Following the transaction, the chief accounting officer now owns 76,623 shares of the company’s stock, valued at approximately $2,699,428.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Braze news, CAO Pankaj Malik sold 2,618 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $35.23, for a total transaction of $92,232.14. Following the completion of the sale, the chief accounting officer now owns 76,623 shares in the company, valued at approximately $2,699,428.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the transaction, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,898 shares of company stock worth $8,081,257. Insiders own 24.03% of the company’s stock.

Braze Company Profile

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.