Braze (NASDAQ:BRZE) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Braze (NASDAQ:BRZE) announced its quarterly earnings results on Tuesday. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03, FiscalAI reports. The firm had revenue of $227.23 million for the quarter, compared to analyst estimates of $220.27 million. Braze had a negative net margin of 15.51% and a negative return on equity of 17.52%.

Braze Price Performance

Shares of BRZE traded down $1.65 during midday trading on Tuesday, hitting $30.31. The stock had a trading volume of 6,017,567 shares, compared to its average volume of 2,931,468. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -27.06 and a beta of 0.88. The company has a 50 day simple moving average of $27.40 and a two-hundred day simple moving average of $23.45. Braze has a twelve month low of $15.26 and a twelve month high of $37.33.

Insiders Place Their Bets

In related news, insider Astha Malik sold 33,656 shares of Braze stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.65, for a total value of $930,588.40. Following the sale, the insider owned 278,138 shares of the company’s stock, valued at approximately $7,690,515.70. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jonathan Hyman sold 42,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $32.47, for a total value of $1,363,740.00. Following the sale, the chief technology officer owned 1,143,219 shares in the company, valued at $37,120,320.93. The trade was a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 203,568 shares of company stock valued at $6,096,461 in the last quarter. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Braze by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock valued at $1,415,000 after buying an additional 1,700 shares in the last quarter. Intech Investment Management LLC increased its holdings in Braze by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock worth $1,453,000 after purchasing an additional 6,379 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Braze during the second quarter worth about $272,000. Russell Investments Group Ltd. raised its holdings in Braze by 1,353.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,619 shares of the company’s stock valued at $270,000 after buying an additional 8,957 shares during the last quarter. Finally, Amundi grew its holdings in Braze by 8.9% during the 2nd quarter. Amundi now owns 32,581 shares of the company’s stock worth $918,000 after acquiring an additional 2,657 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BRZE. Oppenheimer raised their price objective on shares of Braze from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braze in a research report on Tuesday, July 7th. BTIG Research lifted their price objective on Braze from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. DA Davidson upped their target price on shares of Braze from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, Mizuho decreased their target price on Braze from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Braze has an average rating of “Moderate Buy” and a consensus price target of $36.59.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.