Braze (NASDAQ:BRZE – Get Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $-0.840-$-0.800 for the period, compared to the Thomson Reuters consensus 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.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Braze from a sell rating to a hold rating in a report on Monday, February 21st. Barclays lowered their price target on shares of Braze from $95.00 to $75.00 and set an overweight rating for the company in a report on Friday, April 1st. Raymond James lowered their price target on shares of Braze from $85.00 to $65.00 and set an outperform rating for the company in a report on Thursday, March 31st. Needham & Company LLC lowered their price target on shares of Braze from $90.00 to $70.00 and set a buy rating for the company in a report on Thursday, March 31st. Finally, JMP Securities decreased their target price on shares of Braze from $90.00 to $75.00 and set a market outperform rating on the stock in a research report on Tuesday, April 12th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $71.54.
Shares of BRZE stock opened at $46.99 on Wednesday. Braze has a fifty-two week low of $30.76 and a fifty-two week high of $98.78. The firm’s 50 day simple moving average is $42.83.
In related news, CFO Isabelle Winkles sold 65,000 shares of Braze stock in a transaction on Monday, April 4th. The shares were sold at an average price of $41.20, for a total value of $2,678,000.00. Following the completion of the sale, the chief financial officer now owns 20,491 shares in the company, valued at $844,229.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Iconiq Strategic Partners Vi, bought 17,172 shares of the stock in a transaction on Friday, April 8th. The shares were acquired at an average price of $37.58 per share, with a total value of $645,323.76. Following the purchase, the insider now owns 322,390 shares of the company’s stock, valued at $12,115,416.20. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 308,867 shares of company stock worth $11,554,072.
Several large investors have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in shares of Braze during the fourth quarter valued at $324,000. Geode Capital Management LLC acquired a new stake in shares of Braze during the 4th quarter valued at $328,000. BlackRock Inc. acquired a new position in shares of Braze during the 4th quarter worth $396,000. Stifel Financial Corp bought a new stake in shares of Braze during the 4th quarter worth about $532,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Braze in the 4th quarter worth approximately $1,175,000. Institutional investors own 1.92% of the company’s stock.
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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