Braze, Inc. Expected to Earn Q1 2024 Earnings of ($0.37) Per Share (NASDAQ:BRZE)

Posted by Defense World Staff on Apr 6th, 2023

Braze, Inc. (NASDAQ:BRZE – Get Rating) – Equities researchers at DA Davidson issued their Q1 2024 EPS estimates for Braze in a report issued on Monday, April 3rd. DA Davidson analyst G. Luria expects that the company will post earnings of ($0.37) per share for the quarter. DA Davidson currently has a “Neutral” rating and a $34.00 price objective on the stock. The consensus estimate for Braze’s current full-year earnings is ($1.35) per share. DA Davidson also issued estimates for Braze’s FY2024 earnings at ($1.38) EPS and FY2025 earnings at ($0.96) EPS.

A number of other research firms have also recently issued reports on BRZE. JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of Braze in a research report on Friday, March 31st. Canaccord Genuity Group decreased their price objective on shares of Braze from $47.00 to $33.00 in a research report on Wednesday, December 14th. Loop Capital reduced their price target on shares of Braze from $52.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, December 14th. BTIG Research boosted their price target on shares of Braze from $34.00 to $40.00 in a research report on Friday, March 31st. Finally, Raymond James reduced their price target on shares of Braze from $50.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 14th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Braze Trading Down 2.6 %

BRZE stock opened at $34.63 on Wednesday. The firm’s 50-day moving average price is $32.08 and its two-hundred day moving average price is $29.94. Braze has a 12-month low of $22.53 and a 12-month high of $50.97. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -23.56 and a beta of 0.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in shares of Braze by 4.3% in the fourth quarter. Legal & General Group Plc now owns 8,303 shares of the company’s stock worth $227,000 after buying an additional 340 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Braze by 21.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,762 shares of the company’s stock worth $103,000 after buying an additional 669 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Braze by 189.3% in the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after buying an additional 759 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Braze by 8.7% in the first quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock worth $424,000 after buying an additional 820 shares in the last quarter. Finally, Swiss National Bank lifted its position in Braze by 1.9% during the fourth quarter. Swiss National Bank now owns 65,100 shares of the company’s stock valued at $1,776,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 44.13% of the company’s stock.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 2,247 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $32.52, for a total transaction of $73,072.44. Following the sale, the chief accounting officer now owns 74,893 shares of the company’s stock, valued at $2,435,520.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Pankaj Malik sold 2,247 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $32.52, for a total transaction of $73,072.44. Following the sale, the chief accounting officer now owns 74,893 shares of the company’s stock, valued at $2,435,520.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Isabelle Winkles sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $30.77, for a total transaction of $30,770.00. Following the sale, the chief financial officer now directly owns 28,963 shares in the company, valued at approximately $891,191.51. The disclosure for this sale can be found here. 32.14% of the stock is currently owned by insiders.

About Braze

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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.