NEW YORK—Malik Pankaj, the Chief Accounting Officer of Braze , Inc. (NASDAQ:BRZE), recently sold a significant portion of the company's shares. According to a filing with the Securities and Exchange Commission, Pankaj sold 3,432 shares of Class A Common Stock on November 18, 2024. The shares were sold at a weighted average price of $34.45, resulting in a total transaction value of approximately $118,232.
This sale was executed as part of a non-discretionary sell-to-cover program, which was initially implemented by Braze in November 2021 and modified in April 2024. The program aims to satisfy tax withholding obligations associated with the vesting of restricted stock units held by Pankaj.
Following this transaction, Pankaj retains ownership of 67,095 shares, including 39,784 shares represented by restricted stock units.
In other recent news, Braze Inc. witnessed a 26% increase in its fiscal second quarter 2025 revenue, reaching $145.5 million, and added 61 new customers, bringing the total to 2,163. Revenue for the third quarter is projected to be between $147.5 million and $148.5 million, with full fiscal year 2025 revenue expected to be between $582.5 million and $585.5 million. Stifel initiated coverage of Braze with a Buy rating and a price target of $37.00, based on the firm's fiscal year 2027 estimates. DA Davidson maintained a Buy rating with a price target of $55, citing the company's growth potential. BTIG reiterated its Buy rating with a steady price target of $62, highlighting strong demand for Braze's services. JPMorgan also maintained its Overweight rating, with a consistent price target of $55, emphasizing Braze's competitive edge over traditional marketing stacks. These are recent developments that have been reported by various analysts.
InvestingPro Insights
As Braze's Chief Accounting Officer executes a planned share sale, it's worth examining the company's financial position through the lens of InvestingPro data. Braze currently boasts a market capitalization of $3.72 billion, reflecting its significant presence in the customer engagement platform market. The company's revenue growth remains robust, with a 31.12% increase over the last twelve months, reaching $535.87 million.
InvestingPro Tips highlight that Braze holds more cash than debt on its balance sheet, indicating a strong liquidity position. This financial stability is further underscored by the fact that the company's liquid assets exceed its short-term obligations. These factors may provide reassurance to investors in light of the recent insider sale.
Despite these positive indicators, it's important to note that Braze is not currently profitable, with an operating income margin of -25.71% over the last twelve months. However, analysts predict that the company will turn profitable this year, which could be a pivotal development for Braze's financial trajectory.
The stock has shown strong performance recently, with a 19.07% price return over the past month. This uptick comes despite a year-to-date decline of 32.2%, suggesting a potential shift in investor sentiment or market conditions.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Braze, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.