Braze (NASDAQ:BRZE) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Braze (NASDAQ:BRZE) announced its quarterly earnings results on Thursday. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07, Briefing.com reports. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. Braze’s quarterly revenue was up 22.4% on a year-over-year basis.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $37.51 on Friday. The company has a 50 day moving average of $39.66 and a 200-day moving average of $37.98. Braze has a one year low of $29.18 and a one year high of $48.33. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the transaction, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 3,486 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the transaction, the general counsel now owns 182,109 shares in the company, valued at approximately $7,288,002.18. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,470 shares of company stock valued at $3,841,921. 24.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BRZE has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Friday. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Piper Sandler raised their price objective on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. DA Davidson reissued a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Wednesday. Finally, Citigroup raised their price target on Braze from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Braze currently has an average rating of “Buy” and an average target price of $53.00.

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.