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Customer engagement software provider Braze (NASDAQ:BRZE) will be reporting results tomorrow after the bell. Here’s what to look for.
Last quarter Braze reported revenues of $101.8 million, up 31.3% year on year, beating analyst revenue expectations by 2.81%. It was a very strong quarter for the company, with accelerating customer growth and optimistic revenue guidance for the next quarter. The company added 96 customers to a total of 1,866.
Is Braze buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Braze’s revenue to grow 26.1% year on year to $108.6 million, slowing down from the 54.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.14 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St’s expectations, beating revenue estimates every single time over the past two years on average by 6.03%.
Looking at Braze’s peers in the sales and marketing software segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Sprout Social (NASDAQ:SPT) delivered top-line growth of 29.1% year on year, beating analyst estimates by 0.74%, and Upland reported revenue decline of 7.14% year on year, exceeding estimates by 1.59%. Sprout Social traded down 9.5% on the results, and Upland was up 4.9%.
Read the full analysis of Sprout Social’s and Upland’s results on StockStory.
There has been positive sentiment among investors in the sales and marketing software segment, with the stocks up on average 2.23% over the last month. Braze is up 18% during the same time, and is heading into the earnings with analysts’ average price target of $46.8, compared to share price of $47.75.
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The author has no position in any of the stocks mentioned.
