Shares of Braze (NASDAQ: BRZE) fell over 7% in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2023. Earnings per share came in at a loss of $0.15, which beat analysts’ consensus estimate of a loss of $0.22 per share.
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Sales increased by 45.6% year-over-year, with revenue hitting $93.1 million. This beat analysts’ expectations of $90.605 million.
Looking forward, management now expects revenue and adjusted earnings per share for Q4 2023 to be in the ranges of $95 million to $96 million and $-0.18 to $-0.19, respectively.
Overall, Wall Street has a consensus price target of $47 per share on Braze stock, implying 62.63% upside potential, as indicated by the graphic above.
