Braze, Inc. (NASDAQ:BRZE) Expected to Post Quarterly Sales of $72.50 Million

Wall Street analysts expect Braze, Inc. (NASDAQ:BRZE – Get Rating) to report $72.50 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Braze’s earnings. The lowest sales estimate is $72.20 million and the highest is $72.80 million. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Braze will report full year sales of $339.91 million for the current financial year, with estimates ranging from $338.90 million to $341.70 million. For the next year, analysts anticipate that the business will post sales of $457.84 million, with estimates ranging from $440.70 million to $465.88 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Braze.

Braze (NASDAQ:BRZE – Get Rating) last announced its quarterly earnings data on Wednesday, March 30th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.01.

A number of research analysts have recently commented on the company. Zacks Investment Research raised Braze from a “sell” rating to a “hold” rating in a research note on Monday, February 21st. Oppenheimer lowered their target price on Braze from $85.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, March 31st. Loop Capital decreased their price objective on Braze from $90.00 to $75.00 in a report on Thursday, March 31st. JMP Securities upped their target price on Braze from $86.00 to $90.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 21st. Finally, Piper Sandler cut their target price on Braze from $85.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, March 31st. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Braze presently has a consensus rating of “Buy” and a consensus price target of $72.69.

In related news, Director Douglas A. Pepper purchased 175,169 shares of the business’s stock in a transaction on Wednesday, April 6th. The shares were bought at an average price of $37.37 per share, with a total value of $6,546,065.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Iconiq Strategic Partners Vi, acquired 77,924 shares of the company’s stock in a transaction dated Wednesday, April 6th. The stock was acquired at an average cost of $37.37 per share, with a total value of $2,912,019.88. The disclosure for this purchase can be found here.

A number of large investors have recently modified their holdings of BRZE. Sapphire Ventures L.L.C. purchased a new position in shares of Braze in the fourth quarter worth approximately $134,674,000. Alliancebernstein L.P. acquired a new stake in Braze in the fourth quarter valued at approximately $68,082,000. Citadel Advisors LLC acquired a new stake in Braze in the fourth quarter valued at approximately $22,150,000. Dragoneer Investment Group LLC acquired a new stake in shares of Braze in the fourth quarter worth $19,290,000. Finally, Industry Ventures L.L.C. acquired a new stake in shares of Braze in the fourth quarter worth $18,422,000. Hedge funds and other institutional investors own 1.92% of the company’s stock.

Shares of NASDAQ BRZE opened at $36.55 on Monday. The stock’s 50 day moving average is $44.96. Braze has a 1-year low of $30.76 and a 1-year high of $98.78.

About Braze (Get Rating)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.

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