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

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

Braze Stock Up 2.2 %

Braze stock opened at $44.13 on Friday. The firm’s 50-day simple moving average is $41.27 and its 200 day simple moving average is $43.17. Braze has a 52 week low of $33.93 and a 52 week high of $61.53. The firm has a market capitalization of $4.48 billion, a PE ratio of -34.48 and a beta of 1.07.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 50,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the sale, the insider now directly owns 199,963 shares in the company, valued at $9,128,310.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Myles Kleeger sold 50,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the sale, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 2,262 shares of Braze stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the sale, the chief accounting officer now owns 74,361 shares of the company’s stock, valued at approximately $2,836,128.54. The disclosure for this sale can be found here. In the last three months, insiders sold 187,898 shares of company stock worth $8,081,257. 24.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BRZE shares. BTIG Research cut their price target on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Canaccord Genuity Group upped their price objective on shares of Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Friday, June 7th. Raymond James dropped their price target on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, June 7th. Finally, Barclays reduced their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price 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.