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

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

Braze Price Performance

Shares of BRZE stock traded down $8.56 during trading hours on Friday, hitting $35.57. 4,661,186 shares of the company’s stock were exchanged, compared to its average volume of 952,514. The stock’s 50-day moving average is $41.21 and its 200-day moving average is $43.01. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -27.79 and a beta of 1.07. Braze has a 52 week low of $33.93 and a 52 week high of $61.53.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Braze in a research note on Friday. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. TD Cowen reduced their price objective on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Oppenheimer reiterated an “outperform” rating and issued a $60.00 target price on shares of Braze in a research report on Wednesday, June 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $51.00 target price on shares of Braze in a research note on Friday. Seventeen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $60.50.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 8,553 shares of Braze stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $44.31, for a total transaction of $378,983.43. Following the transaction, the general counsel now owns 206,930 shares in the company, valued at approximately $9,169,068.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Braze news, General Counsel Susan Wiseman sold 8,553 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $44.31, for a total transaction of $378,983.43. Following the completion of the sale, the general counsel now owns 206,930 shares of the company’s stock, valued at approximately $9,169,068.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Pankaj Malik sold 2,618 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $35.23, for a total value of $92,232.14. Following the transaction, the chief accounting officer now owns 76,623 shares in the company, valued at approximately $2,699,428.29. The disclosure for this sale can be found here. Insiders have sold a total of 187,898 shares of company stock worth $8,081,257 over the last 90 days. 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.