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

Braze (NASDAQ:BRZE) released its earnings results 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 net margin of 25.06% and a negative return on equity of 27.85%. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same quarter last year, the firm earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year.

Braze Price Performance

BRZE traded down $8.56 during trading on Friday, hitting $35.57. The stock had a trading volume of 4,661,186 shares, compared to its average volume of 952,514. The company has a 50 day moving average price of $41.21 and a 200-day moving average price of $43.01. The firm 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 one year low of $33.93 and a one year high of $61.53.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 8,553 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $44.31, for a total transaction of $378,983.43. Following the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,169,068.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Pankaj Malik sold 2,618 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,699,428.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 8,553 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $44.31, for a total transaction of $378,983.43. Following the completion of the transaction, the general counsel now directly owns 206,930 shares in the company, valued at $9,169,068.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,898 shares of company stock worth $8,081,257. Corporate insiders own 24.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BRZE shares. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Raymond James decreased their price target on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, June 7th. Piper Sandler reiterated an “overweight” rating and set a $51.00 price objective on shares of Braze in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Braze in a research note on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $60.00 price target on shares of Braze in a research report on Wednesday, June 12th. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average 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.