Braze, Inc. BRZE reported better than expected third quarter sales results and provided strong guidance for FY23.

Braze posted a quarterly loss of $0.15 per share on revenue of $93.10 million.

The company said it expects a loss of $0.69 to $0.68 per share for FY23 versus analyst estimates of a loss of $0.77 per share. The company expects FY23 revenue of $352-$353 million versus expectations of $349.3 million.

Braze shares fell 5.1% to trade at $27.43 on Wednesday.

These analysts revised their price targets for Braze after the company released quarterly results.

• Piper Sandler lowering the price target for Braze from $38 to $33. Piper Sandler analyst Brent Bracelin maintained an overweight stance on the stock.
• JMP Securities Lower Braze price target to $46 from $52. JMP Securities analyst Patrick Walravens kept a market outperform rating on the stock.
• Raymond James lowered the stock’s price target to $38 from $50. Raymond James analyst Brian Peterson kept the stock at an outperform.
• loop capital lowered Braze’s price target to $40 from $52. Loop Capital analyst Yun Kim maintained the stock with a buy.