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

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

Braze Price Performance

NASDAQ:BRZE traded down $1.65 on Tuesday, reaching $30.31. The stock had a trading volume of 6,017,567 shares, compared to its average volume of 2,931,468. The firm’s fifty day moving average is $27.40 and its two-hundred day moving average is $23.45. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -27.06 and a beta of 0.88. Braze has a 12-month low of $15.26 and a 12-month high of $37.33.

Insider Buying and Selling

In other Braze news, CTO Jonathan Hyman sold 42,000 shares of Braze stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $32.47, for a total transaction of $1,363,740.00. Following the sale, the chief technology officer owned 1,143,219 shares of the company’s stock, valued at $37,120,320.93. The trade was a 3.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Edward Mcdonnell sold 29,732 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $31.38, for a total transaction of $932,990.16. Following the sale, the executive directly owned 409,630 shares in the company, valued at approximately $12,854,189.40. This trade represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 203,568 shares of company stock valued at $6,096,461 in the last three months. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Braze

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Braze by 3,650.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock worth $28,000 after purchasing an additional 803 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Braze during the 4th quarter valued at $52,000. Osaic Holdings Inc. raised its holdings in shares of Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after acquiring an additional 1,404 shares in the last quarter. Quarry LP acquired a new position in Braze in the 3rd quarter worth about $46,000. Finally, Kestra Advisory Services LLC acquired a new position in Braze in the fourth quarter worth approximately $182,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BRZE. The Goldman Sachs Group set a $34.00 price objective on Braze and gave the company a “buy” rating in a report on Wednesday, June 24th. Canaccord Genuity Group dropped their price target on Braze from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Mizuho reduced their price target on Braze from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, May 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Braze in a research report on Tuesday, July 7th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $35.00 target price on shares of Braze in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Braze has a consensus rating of “Moderate Buy” and a consensus target price of $36.59.

About Braze

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.