Braze (NASDAQ:BRZE) Releases Fiscal 23 Earnings Guidance

Braze (NASDAQ:BRZE – Get Rating) released an update on its FY23 earnings forecast on Monday morning. The company provided EPS guidance of ($0.82) to ($0.78) for the period, compared to the consensus EPS estimate of ($0.83). The company released a revenue forecast of $345-349 million, compared to a consensus revenue estimate of $340.21 million. Braze also updated its guidance for fiscal year 2023 to -$0.82 – $0.78 EPS.

BRZE traded at $3.33 during Monday’s trading, reaching $29.40. 867,989 shares of the company were traded, against an average volume of 645,790. The company’s 50-day moving average is $36.80 and its two-hundred-day moving average is $48.70. Braze has a 12-month low of $27.09 and a 12-month high of $98.78.

Braze Inc (NASDAQ:BRZE – Get Rating) last released quarterly earnings data on Wednesday, March 30. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.37) by ($0.18). The company posted revenue of $70.43 million in the quarter, compared to analyst estimates of $65.59 million. On average, research analysts expect Braze to post -1.77 earnings per share for the current fiscal year.

A number of analysts have recently released reports on BRZE shares. William Blair reissued an outperformance rating on Braze shares in a Thursday, March 31 report. Loop Capital lowered its price target on Braze from $90.00 to $75.00 in a Thursday, March 31 report. Oppenheimer lowered his price target on Braze from $85.00 to $60.00 and set an outperform rating for the stock in a Thursday, March 31 report. Piper Sandler lowered its price target on Braze from $85.00 to $65.00 and set an overweight rating on the stock in a Thursday, March 31 report. Finally, Cowen lowered his price target on Braze to $72.00 in a Friday, May 27 report. Fourteen analysts have rated the stock with a buy rating. According to MarketBeat.com, the company has an average buy rating and consensus target price of $71.57.

Separately, CAO Pankaj Malik sold 5,943 shares of the company in a deal that took place on Tuesday, May 17. The stock was sold at an average price of $31.53, for a total transaction of $187,382.79. As a result of the transaction, the chief accounting officer now directly owns 80,360 shares of the company, valued at approximately $2,533,750.80. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Additionally, CFO Isabelle Winkles sold 65,000 shares of the company in a trade that took place on Monday, April 4. The stock was sold at an average price of $41.20, for a total value of $2,678,000.00. Following the transaction, the CFO now owns 20,491 shares of the company, valued at $844,229.20. The disclosure of this sale can be found here. Insiders purchased a total of 308,867 shares of the company worth $11,554,072 during the last quarter. Company insiders hold 32.14% of the company’s shares.

A number of institutional investors and hedge funds have recently bought and sold shares of BRZE. Bank of America Corp DE increased its position in Braze by 50,225.0% during the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company worth $83,000 after acquiring 2,009 additional shares in the last quarter. Millennium Management LLC purchased a new stake in Braze stock in Q4 for a value of approximately $324,000. Geode Capital Management LLC purchased a new stake in shares of Braze in Q4 for a value of approximately $328,000. Dynamic Technology Lab Private Ltd purchased a new equity stake in Braze in Q1 worth approximately $346,000. Finally, Bank of New York Mellon Corp bought a new equity stake in Braze in Q1 worth about $370,000. Institutional investors and hedge funds own 23.64% of the company’s shares.

About Braze (Get a rating)

Braze, Inc operates a customer engagement platform that enables interactions between consumers and brands around the world. It offers data ingestion products, such as Braze SDKs that automatically handle data ingestion and delivery of mobile and web notifications, in-app/in-browser interstitial messages, and content, and can also 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 Sync, which allows brands to sync partner user cohorts.

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Earnings History and Estimates for Braze (NASDAQ:BRZE)

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