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

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

Braze Stock Performance

Shares of BRZE stock traded up $2.00 during mid-day trading on Friday, reaching $38.70. 3,206,389 shares of the company’s stock traded hands, compared to its average volume of 1,241,808. The firm has a market capitalization of $4.00 billion, a PE ratio of -34.01 and a beta of 1.17. Braze has a 12 month low of $29.18 and a 12 month high of $48.33. The firm has a 50 day moving average price of $39.80 and a two-hundred day moving average price of $37.97.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research firms have recently commented on BRZE. Citigroup increased their price target on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 target price (up from $50.00) on shares of Braze in a research note on Friday. Macquarie boosted their price target on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Stifel Nicolaus set a $50.00 price target on Braze and gave the company a “buy” rating in a report on Friday. Finally, DA Davidson reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Wednesday. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $52.65.

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.