Why Braze Stock Was Up More Than 10% on Tuesday
Shares of Braze (NASDAQ: BRZE) were trading up 10.3% as of 12:20 p.m. ET on Tuesday, following a better-than-expected earnings report. The gain is notable since the worries over the economy continued to weigh on the major market indexes. The S&P 500 index was down 0.2% at the time of this writing.
Year to date, expensive growth stocks have been hit the hardest by the bear market. The stock is down 30%, but it's worth noting that Braze has outperformed the tech-heavy Nasdaq Composite loss of 58%.
Braze is a leading customer management platform that helps companies connect with customers to better understand their needs. The company entered the year with over 1,300 customers using its platform to process customer data and manage and optimize their marketing campaigns. Braze grew its customer count to 1,503 in the first quarter, which led to robust revenue growth of 62% year over year.
Source Fool.com
