Customer engagement platform Braze (NASDAQ: BRZE) will be reporting results this Tuesday after market hours. Here’s what investors should know.
Braze beat analysts’ revenue expectations last quarter, reporting revenues of $190.8 million, up 25.5% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ billings estimates. It added 106 customers to reach a total of 2,528.
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 23.6% year on year, improving from the 22.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally 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 Q4 results, giving us a hint as to what we can expect. Sprout Social delivered year-on-year revenue growth of 12.9%, beating analysts’ expectations by 1.8%, and Upland Software reported a revenue decline of 27.5%, falling short of estimates by 1.4%. Sprout Social traded down 9.3% following the results while Upland Software was also down 12.5%.
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 8.3% on average over the last month. Braze is up 18.4% during the same time and is heading into earnings with an average analyst price target of $40.50 (compared to the current share price of $18.70).
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