Customer engagement platform Braze (NASDAQ: BRZE) will be announcing earnings results this Wednesday after market close. Here’s what to expect.
Braze beat analysts’ revenue expectations last quarter, reporting revenues of $205.2 million, up 27.9% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ billings estimates and a solid beat of analysts’ EBITDA estimates. It added 81 customers to reach a total of 2,609.
Is Braze a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Braze’s revenue to grow 26.6% year on year, improving from the 19.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Braze has a history of exceeding Wall Street’s expectations.
Looking at Braze’s peers in the sales and marketing software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Sprout Social delivered year-on-year revenue growth of 11.2%, beating analysts’ expectations by 0.9%, and Upland Software reported a revenue decline of 23.5%, in line with consensus estimates. Sprout Social traded up 8.8% following the results while Upland Software was also up 15.2%.
Read our full analysis of Sprout Social’s results here and Upland Software’s results here.
There has been positive sentiment among investors in the sales and marketing software segment, with share prices up 10% on average over the last month. Braze is up 3.6% during the same time and is heading into earnings with an average analyst price target of $34.85 (compared to the current share price of $24.09).
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