Braze (NASDAQ:BRZE) Issues Q1 Earnings Guidance

Braze (NASDAQ:BRZE) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $(0.11)-$(0.10) for the period, compared to the consensus EPS estimate of ($0.05). The company issued revenue guidance of $131-132 million, compared to the consensus revenue estimate of $127.74 million. Braze also updated its FY25 guidance to $(0.12)-$(0.08) EPS.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JMP Securities boosted their price target on Braze from $56.00 to $68.00 and gave the stock a market outperform rating in a research report on Thursday, December 7th. Raymond James upped their price objective on Braze from $52.00 to $75.00 and gave the company an outperform rating in a research report on Thursday, December 7th. Canaccord Genuity Group upped their price objective on Braze from $55.00 to $70.00 and gave the company a buy rating in a research report on Thursday, December 7th. Needham & Company LLC upped their price objective on Braze from $60.00 to $70.00 and gave the company a buy rating in a research report on Thursday, December 7th. Finally, UBS Group raised Braze from a neutral rating to a buy rating and set a $62.00 price objective on the stock in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $63.76.

Braze Price Performance

Shares of NASDAQ:BRZE traded up $1.16 during midday trading on Wednesday, hitting $50.58. The company had a trading volume of 1,506,314 shares, compared to its average volume of 724,835. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -36.02 and a beta of 1.21. Braze has a 12-month low of $25.76 and a 12-month high of $61.53. The company has a fifty day moving average of $55.12 and a two-hundred day moving average of $51.25.

Insider Transactions at Braze

In other Braze news, insider Myles Kleeger sold 15,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total value of $746,700.00. Following the completion of the sale, the insider now owns 171,709 shares in the company, valued at approximately $8,547,674.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Braze news, insider Myles Kleeger sold 15,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total value of $746,700.00. Following the completion of the sale, the insider now owns 171,709 shares in the company, valued at approximately $8,547,674.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Pankaj Malik sold 1,000 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $53.73, for a total transaction of $53,730.00. Following the transaction, the chief accounting officer now directly owns 77,853 shares of the company’s stock, valued at approximately $4,183,041.69. The disclosure for this sale can be found here. Insiders sold 90,471 shares of company stock worth $5,013,803 in the last three months. Corporate insiders own 26.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Braze by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares during the last quarter. Morgan Stanley lifted its stake in Braze by 21.4% in the fourth quarter. Morgan Stanley now owns 4,992,683 shares of the company’s stock worth $136,200,000 after purchasing an additional 880,451 shares during the last quarter. BlackRock Inc. lifted its stake in Braze by 296.6% in the second quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock worth $114,050,000 after purchasing an additional 1,947,831 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Braze by 12.5% in the second quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock worth $104,054,000 after purchasing an additional 263,250 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Braze by 62.6% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,090,100 shares of the company’s stock worth $111,047,000 after purchasing an additional 805,000 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.