Braze (NASDAQ:BRZE) Issues Quarterly Earnings Results

Braze (NASDAQ:BRZE) posted its quarterly earnings results on Wednesday. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10, FiscalAI reports. The firm had revenue of $211.00 million for the quarter, compared to analyst estimates of $205.19 million. Braze had a negative net margin of 17.78% and a negative return on equity of 18.75%.

Braze Price Performance

NASDAQ BRZE traded down $0.87 on Wednesday, hitting $24.58. 5,185,629 shares of the stock were exchanged, compared to its average volume of 3,134,709. The company’s 50-day moving average price is $21.91 and its two-hundred day moving average price is $24.55. Braze has a 52-week low of $15.26 and a 52-week high of $37.67. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -20.15 and a beta of 0.78.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 35,000 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $20.29, for a total transaction of $710,150.00. Following the transaction, the general counsel directly owned 209,424 shares in the company, valued at $4,249,212.96. The trade was a 14.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 18.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Braze by 3,650.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock valued at $28,000 after purchasing an additional 803 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Braze by 821.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after purchasing an additional 1,404 shares during the last quarter. Quarry LP acquired a new stake in shares of Braze in the 3rd quarter valued at $46,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Braze in the 4th quarter valued at $52,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Braze in the 3rd quarter valued at $163,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BRZE has been the topic of several recent research reports. Mizuho decreased their price target on shares of Braze from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. The Goldman Sachs Group lowered their price objective on shares of Braze from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Citigroup lowered their price objective on shares of Braze from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $43.00 price objective on shares of Braze in a research report on Monday, March 23rd. Finally, Stifel Nicolaus lowered their price objective on shares of Braze from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Twenty-two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.90.

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.