Braze (NASDAQ:BRZE) Releases Q1 Earnings Guidance

Braze (NASDAQ:BRZE) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $(0.11)-$(0.10) for the period, compared to the consensus estimate of ($0.05). The company issued revenue guidance of $131-132 million, compared to the consensus revenue estimate of $127.74 million. Braze also updated its FY25 guidance to $(0.12)-$(0.08) EPS.

Analyst Ratings Changes

A number of research firms have weighed in on BRZE. Piper Sandler increased their price target on shares of Braze from $57.00 to $66.00 and gave the stock an overweight rating in a research note on Thursday, December 7th. DA Davidson reaffirmed a buy rating and set a $65.00 price target on shares of Braze in a research note on Monday. The Goldman Sachs Group increased their price target on shares of Braze from $55.00 to $63.00 and gave the stock a buy rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. raised their target price on shares of Braze from $52.00 to $57.00 and gave the company an overweight rating in a research note on Wednesday, November 29th. Finally, Canaccord Genuity Group increased their price target on Braze from $55.00 to $70.00 and gave the company a buy rating in a report on Thursday, December 7th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $63.76.

Braze Stock Performance

Shares of NASDAQ BRZE traded up $1.16 during midday trading on Wednesday, hitting $50.58. The company’s stock had a trading volume of 1,506,314 shares, compared to its average volume of 724,835. Braze has a 1-year low of $25.76 and a 1-year high of $61.53. The firm’s fifty day moving average price is $55.12 and its 200-day moving average price is $51.25. The firm has a market cap of $5.05 billion, a P/E ratio of -36.02 and a beta of 1.21.

Insider Activity

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.32, for a total transaction of $76,980.00. Following the completion of the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at approximately $567,393.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.32, for a total transaction of $76,980.00. Following the completion of the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at approximately $567,393.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jonathan Hyman sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $54.51, for a total transaction of $817,650.00. Following the sale, the chief technology officer now owns 129,830 shares in the company, valued at $7,077,033.30. The disclosure for this sale can be found here. In the last three months, insiders sold 90,471 shares of company stock valued at $5,013,803. Company insiders own 26.48% of the company’s stock.

Institutional Trading of Braze

A number of hedge funds and other institutional investors have recently made changes to their positions in BRZE. Bank of New York Mellon Corp purchased a new position in shares of Braze in the first quarter worth approximately $370,000. Bank of Montreal Can increased its position in shares of Braze by 81.7% in the first quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock worth $4,645,000 after acquiring an additional 46,591 shares in the last quarter. BlackRock Inc. increased its position in shares of Braze by 2,301.3% in the first quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock worth $5,111,000 after acquiring an additional 118,101 shares in the last quarter. Blair William & Co. IL increased its position in shares of Braze by 8.7% in the first quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock worth $424,000 after acquiring an additional 820 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Braze by 21.8% in the first quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock worth $28,860,000 after acquiring an additional 124,741 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.