Braze (NASDAQ:BRZE) Releases Quarterly Earnings Results, Hits Expectations

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

Braze Stock Performance

Shares of BRZE traded down $0.87 during trading hours on Wednesday, reaching $24.58. 5,185,629 shares of the company traded hands, compared to its average volume of 3,134,709. The stock’s fifty day moving average is $21.91 and its 200 day moving average is $24.55. The stock has a market cap of $2.79 billion, a P/E ratio of -20.15 and a beta of 0.78. Braze has a 1-year low of $15.26 and a 1-year high of $37.67.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BRZE. Barclays upped their price target on shares of Braze from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, March 25th. TD Cowen decreased their price target on shares of Braze from $43.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 20th. Citigroup decreased their price target on shares of Braze from $53.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Braze in a report on Wednesday, March 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price target on shares of Braze in a report on Wednesday, March 25th. Twenty-two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Braze presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.90.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 35,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $20.29, for a total transaction of $710,150.00. Following the completion of the transaction, the general counsel owned 209,424 shares of the company’s stock, valued at approximately $4,249,212.96. This represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its position in Braze by 7.2% in the third quarter. Envestnet Asset Management Inc. now owns 11,080 shares of the company’s stock worth $315,000 after purchasing an additional 746 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Braze by 3,650.0% in 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 in the last quarter. MetLife Investment Management LLC raised its position in Braze by 1.9% in the fourth quarter. MetLife Investment Management LLC now owns 47,231 shares of the company’s stock worth $1,620,000 after purchasing an additional 890 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Braze by 5.0% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 23,081 shares of the company’s stock worth $791,000 after purchasing an additional 1,107 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Braze by 1.6% in the second quarter. California State Teachers Retirement System now owns 70,283 shares of the company’s stock worth $1,975,000 after purchasing an additional 1,113 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.