Braze (NASDAQ:BRZE) Updates FY 2023 Earnings Guidance

Braze (NASDAQ:BRZEGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided EPS guidance of $-0.840-$-0.800 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.920. The company issued revenue guidance of $338 million-$342 million, compared to the consensus revenue estimate of $329.13 million.Braze also updated its Q1 2023 guidance to $-0.210-$-0.200 EPS.

Shares of BRZE stock opened at $39.10 on Wednesday. The business has a fifty day simple moving average of $44.31. Braze has a 52-week low of $30.76 and a 52-week high of $98.78.

Braze (NASDAQ:BRZEGet Rating) last posted its earnings results on Wednesday, March 30th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. As a group, equities analysts expect that Braze will post -1.77 earnings per share for the current fiscal year.

A number of analysts recently issued reports on the company. Piper Sandler lowered their price target on Braze from $85.00 to $65.00 and set an overweight rating for the company in a report on Thursday, March 31st. Zacks Investment Research raised Braze from a sell rating to a hold rating in a research report on Monday, February 21st. Raymond James dropped their price target on Braze from $85.00 to $65.00 and set an outperform rating on the stock in a research note on Thursday, March 31st. Needham & Company LLC reduced their price objective on Braze from $90.00 to $70.00 and set a buy rating for the company in a research note on Thursday, March 31st. Finally, William Blair reiterated an outperform rating on shares of Braze in a research report on Thursday, March 31st. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $71.54.

In related news, Director Douglas A. Pepper acquired 175,169 shares of Braze stock in a transaction on Wednesday, April 6th. The stock was bought at an average cost of $37.37 per share, for a total transaction of $6,546,065.53. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Isabelle Winkles sold 65,000 shares of Braze stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $41.20, for a total transaction of $2,678,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 308,867 shares of company stock valued at $11,554,072.

A number of institutional investors have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in Braze during the 4th quarter worth $324,000. Geode Capital Management LLC purchased a new position in shares of Braze in the fourth quarter worth about $328,000. BlackRock Inc. purchased a new position in shares of Braze in the fourth quarter worth about $396,000. Stifel Financial Corp acquired a new position in Braze during the fourth quarter worth about $532,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Braze during the 4th quarter valued at about $1,175,000. 1.92% of the stock is currently owned by hedge funds and other institutional investors.

Braze Company Profile (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.

See Also

Earnings History and Estimates for Braze (NASDAQ:BRZE)

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