Braze (NASDAQ:BRZE) Announces Quarterly Earnings Results

Braze (NASDAQ:BRZE – Get Rating) released its quarterly earnings data on Monday. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.02, Fidelity Earnings reports.

BRZE traded up $0.45 during midday trading on Wednesday, hitting $32.50. The company’s stock had a trading volume of 5,286 shares, compared to its average volume of 648,159. The firm has a 50-day moving average price of $36.69 and a two-hundred day moving average price of $48.59. Braze has a 52-week low of $27.09 and a 52-week high of $98.78.

In other Braze news, CAO Pankaj Malik sold 5,943 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $31.53, for a total value of $187,382.79. Following the completion of the transaction, the chief accounting officer now owns 80,360 shares in the company, valued at approximately $2,533,750.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Douglas A. Pepper purchased 175,169 shares of the firm’s stock in a transaction on Wednesday, April 6th. The stock was bought at an average price of $37.37 per share, with a total value of $6,546,065.53. The disclosure for this purchase can be found here. Insiders acquired a total of 308,867 shares of company stock valued at $11,554,072 in the last 90 days. 32.14% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRZE. Blair William & Co. IL raised its position in shares of Braze by 8.7% in the 1st quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock valued at $424,000 after purchasing an additional 820 shares in the last quarter. Bank of America Corp DE raised its position in shares of Braze by 50,225.0% during the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock valued at $83,000 after acquiring an additional 2,009 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Braze during the 4th quarter valued at approximately $324,000. Geode Capital Management LLC acquired a new stake in shares of Braze during the 4th quarter valued at approximately $328,000. Finally, BlackRock Inc. acquired a new stake in shares of Braze during the 4th quarter valued at approximately $396,000. Hedge funds and other institutional investors own 23.64% of the company’s stock.

A number of equities analysts have weighed in on the stock. Piper Sandler reduced their price objective on shares of Braze from $65.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday. Canaccord Genuity Group lowered their target price on shares of Braze from $60.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday. Needham & Company LLC reduced their price target on shares of Braze from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, March 31st. JPMorgan Chase & Co. reduced their target price on shares of Braze from $65.00 to $42.00 in a report on Tuesday. Finally, Barclays reduced their target price on shares of Braze from $75.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday. Fifteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $53.64.

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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