Braze (NASDAQ:BRZE) Releases Earnings Results

by · The Cerbat Gem

Braze (NASDAQ:BRZE – Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.35), Zacks reports. Braze had a negative return on equity of 17.97% and a negative net margin of 16.62%.

Braze Trading Up 2.1%

BRZE stock traded up $0.62 during midday trading on Tuesday, hitting $30.65. The stock had a trading volume of 4,228,460 shares, compared to its average volume of 1,530,083. The firm has a market cap of $3.41 billion, a P/E ratio of -29.47 and a beta of 1.10. The business has a fifty day moving average price of $27.95 and a two-hundred day moving average price of $28.65. Braze has a 1-year low of $23.91 and a 1-year high of $48.33.

Insider Buying and Selling

In other Braze news, CTO Jonathan Hyman sold 9,789 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total value of $260,778.96. Following the transaction, the chief technology officer directly owned 195,317 shares of the company’s stock, valued at approximately $5,203,244.88. The trade was a 4.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Astha Malik sold 14,322 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total transaction of $381,538.08. Following the sale, the insider directly owned 219,338 shares of the company’s stock, valued at approximately $5,843,164.32. This trade represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 68,557 shares of company stock worth $1,856,089 over the last three months. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On Braze

Large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its holdings in shares of Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after purchasing an additional 1,404 shares during the period. Quarry LP acquired a new stake in shares of Braze in the 3rd quarter valued at about $46,000. Quantbot Technologies LP bought a new stake in Braze in the 3rd quarter valued at about $163,000. Caxton Associates LLP acquired a new position in Braze during the 3rd quarter worth approximately $231,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Braze during the 3rd quarter worth approximately $242,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BRZE has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Braze in a research report on Wednesday, October 22nd. The Goldman Sachs Group set a $52.00 price objective on Braze and gave the company a “buy” rating in a research note on Saturday, September 6th. Mizuho upped their price target on shares of Braze from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. DA Davidson reiterated a “buy” rating and set a $40.00 price target on shares of Braze in a report on Friday, September 5th. Finally, UBS Group reduced their price objective on shares of Braze from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Nineteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.11.

Check Out Our Latest Stock Analysis on Braze

Braze Company Profile

(Get Free Report)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.

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