Braze Inc rises on results beat, upbeat forecast

Braze

31/03/2023 13:49

** Shares of customer engagement platform Braze Inc  BRZE.O 
up 4.43% at $33 
    ** Posts Q4 revenue of $98.7 mln, beating Wall Street
estimates of $95.74 mln - Refinitiv IBES  
    ** Records Q4 adj. loss of $0.14/shr vs analysts'
expectations of $0.19/shr 
    ** Co sees FY 2024 rev between $433.0 mln and $438.0 mln,
above expectations of $430.33 mln 
    ** Expects Q1 adj loss $0.18/shr-$0.19/shr, and FY 2024 loss
of $0.55/shr-$0.59/shr, both broadly in-line with expectations 
    ** Announces acquisition of North Star, with expected
closing in Q2 
    ** North Star has been co's exclusive reseller in Australia
and New Zealand region since 2016
    ** 13 of 15 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $40.00
    ** As of last close, stock had gained 15.84% YTD 
 

 (Reporting By Akshita Toshniwal)
 ((Akshita.Toshniwal@thomsonreuters.com))