Braze (NASDAQ:BRZE) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Braze (NASDAQ:BRZEGet Rating) announced its quarterly earnings results on Monday. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02, Fidelity Earnings reports.

NASDAQ BRZE opened at $29.40 on Tuesday. The firm has a 50-day moving average of $36.80 and a 200-day moving average of $48.70. Braze has a 52-week low of $27.09 and a 52-week high of $98.78.

Several equities analysts have recently commented on BRZE shares. William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, March 31st. Oppenheimer cut their price target on Braze from $60.00 to $37.00 in a report on Tuesday. JMP Securities lowered their price objective on shares of Braze from $75.00 to $52.00 in a research note on Tuesday. Canaccord Genuity Group decreased their price target on shares of Braze from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, March 31st. Finally, Loop Capital lowered their price objective on shares of Braze from $90.00 to $75.00 in a research report on Thursday, March 31st. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $64.86.

In related news, CAO Pankaj Malik sold 5,943 shares of Braze stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $31.53, for a total transaction of $187,382.79. Following the sale, the chief accounting officer now directly owns 80,360 shares of the company’s stock, valued at approximately $2,533,750.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Isabelle Winkles sold 65,000 shares of Braze stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $41.20, for a total transaction of $2,678,000.00. Following the sale, the chief financial officer now owns 20,491 shares in the company, valued at $844,229.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 308,867 shares of company stock worth $11,554,072. 32.14% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC purchased a new stake in Braze during the fourth quarter valued at about $328,000. Goldman Sachs Group Inc. bought a new position in Braze during the fourth quarter valued at approximately $1,175,000. D. E. Shaw & Co. Inc. bought a new position in Braze during the fourth quarter valued at approximately $2,953,000. Millennium Management LLC purchased a new stake in shares of Braze during the fourth quarter valued at approximately $324,000. Finally, Marshall Wace LLP purchased a new stake in shares of Braze during the fourth quarter valued at approximately $5,490,000. Hedge funds and other institutional investors own 23.64% 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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