Braze (NASDAQ:BRZE) Releases FY 2023 Earnings Guidance

Braze (NASDAQ:BRZEGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $-0.840-$-0.800 for the period, compared to the Thomson Reuters consensus estimate of $-0.920. The company issued revenue guidance of $338 million-$342 million, compared to the consensus revenue estimate of $329.13 million.Braze also updated its Q1 2023 guidance to $-0.210-$-0.200 EPS.

Several analysts recently commented on the company. Canaccord Genuity Group dropped their price objective on Braze from $85.00 to $60.00 and set a buy rating on the stock in a research note on Thursday, March 31st. Oppenheimer dropped their price target on Braze from $85.00 to $60.00 and set an outperform rating on the stock in a research note on Thursday, March 31st. William Blair reissued an outperform rating on shares of Braze in a research note on Thursday, March 31st. Raymond James dropped their price target on Braze from $85.00 to $65.00 and set an outperform rating on the stock in a research note on Thursday, March 31st. Finally, The Goldman Sachs Group dropped their price target on Braze from $100.00 to $60.00 and set a buy rating on the stock in a research note on Wednesday, March 16th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Braze has an average rating of Buy and an average price target of $71.54.

Braze stock opened at $40.19 on Friday. Braze has a 52 week low of $30.76 and a 52 week high of $98.78. The stock’s 50-day simple moving average is $40.52.

Braze (NASDAQ:BRZEGet Rating) last posted its quarterly earnings results on Wednesday, March 30th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. On average, analysts forecast that Braze will post -1.77 EPS for the current fiscal year.

In other news, CFO Isabelle Winkles sold 65,000 shares of the business’s 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 completion of the sale, the chief financial officer now owns 20,491 shares in the company, valued at $844,229.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Douglas A. Pepper acquired 38,602 shares of Braze stock in a transaction dated Friday, April 8th. The shares were purchased at an average price of $37.58 per share, with a total value of $1,450,663.16. Following the acquisition, the director now owns 402,328 shares of the company’s stock, valued at $15,119,486.24. The disclosure for this purchase can be found here. Insiders have purchased 308,867 shares of company stock valued at $11,554,072 in the last quarter.

Several large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Braze in the fourth quarter valued at approximately $396,000. Weiss Multi Strategy Advisers LLC acquired 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.

Braze Company Profile (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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Earnings History and Estimates for Braze (NASDAQ:BRZE)

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