Braze (NASDAQ:BRZE) Issues Q1 2023 Earnings Guidance

Braze (NASDAQ:BRZEGet Rating) issued an update on its first quarter 2023 earnings guidance on Wednesday morning. The company provided EPS guidance of $-0.210-$-0.200 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.230. The company issued revenue guidance of $72 million-$73 million, compared to the consensus revenue estimate of $69.93 million.Braze also updated its FY 2023 guidance to $-0.840-$-0.800 EPS.

NASDAQ BRZE opened at $41.99 on Wednesday. The firm has a fifty day moving average price of $40.84. Braze has a 1 year low of $30.76 and a 1 year high of $98.78.

Braze (NASDAQ:BRZEGet Rating) last posted its quarterly earnings results on Wednesday, March 30th. The company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.01. Research analysts predict that Braze will post -1.77 earnings per share for the current year.

A number of research firms have issued reports on BRZE. Loop Capital reduced their price target on shares of Braze from $90.00 to $75.00 in a research report on Thursday, March 31st. William Blair reissued an outperform rating on shares of Braze in a report on Thursday, March 31st. Canaccord Genuity Group lowered their price target on shares of Braze from $85.00 to $60.00 and set a buy rating on the stock in a report on Thursday, March 31st. JMP Securities decreased their price objective on Braze from $90.00 to $75.00 and set a market outperform rating for the company in a report on Tuesday, April 12th. Finally, Zacks Investment Research raised Braze from a sell rating to a hold rating in a report on Monday, February 21st. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $71.54.

In related news, CFO Isabelle Winkles sold 65,000 shares of Braze stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $41.20, for a total value of $2,678,000.00. Following the completion of the transaction, the chief financial officer now owns 20,491 shares in the company, valued at approximately $844,229.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Iconiq Strategic Partners Vi, acquired 17,172 shares of the business’s stock in a transaction on Friday, April 8th. The shares were purchased at an average price of $37.58 per share, with a total value of $645,323.76. Following the completion of the purchase, the insider now owns 322,390 shares in the company, valued at approximately $12,115,416.20. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 308,867 shares of company stock valued at $11,554,072.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Braze during the 4th quarter worth approximately $396,000. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Braze in the fourth quarter valued at approximately $2,083,000. Goldman Sachs Group Inc. acquired a new stake in shares of Braze in the fourth quarter valued at approximately $1,175,000. Stifel Financial Corp acquired a new stake in shares of Braze in the fourth quarter valued at approximately $532,000. Finally, Marshall Wace LLP acquired a new stake in shares of Braze in the fourth quarter valued at approximately $5,490,000. 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.

See Also

Earnings History and Estimates for Braze (NASDAQ:BRZE)

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