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

Braze (NASDAQ:BRZE - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.07, Briefing.com reports. The business had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) earnings per share.

Braze Stock Performance

Shares of NASDAQ BRZE traded down $0.44 during mid-day trading on Tuesday, reaching $35.64. 407,469 shares of the company traded hands, compared to its average volume of 1,210,736. The company's fifty day moving average is $39.50 and its two-hundred day moving average is $38.04. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $48.33. The stock has a market cap of $3.69 billion, a PE ratio of -31.25 and a beta of 1.17.

Analyst Ratings Changes

BRZE has been the topic of several research reports. DA Davidson reaffirmed a "buy" rating and issued a $50.00 price target on shares of Braze in a report on Wednesday, March 26th. Raymond James boosted their price objective on Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday. Citigroup raised their target price on shares of Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday. Canaccord Genuity Group boosted their price target on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday. Finally, Stephens began coverage on shares of Braze in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Braze presently has an average rating of "Buy" and an average target price of $53.00.

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Insider Buying and Selling at Braze

In related news, General Counsel Susan Wiseman sold 14,000 shares of Braze stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.52, for a total value of $637,280.00. Following the transaction, the general counsel now owns 199,520 shares in the company, valued at $9,082,150.40. This trade represents a 6.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Myles Kleeger sold 8,365 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the transaction, the insider now directly owns 168,882 shares of the company's stock, valued at approximately $6,775,545.84. This represents a 4.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock worth $3,841,921 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.