Braze, Inc. (NASDAQ:BRZE) Receives $60.88 Average Price Target from Brokerages

Braze, Inc. (NASDAQ:BRZE) has been given an average recommendation of “Moderate Buy” by the seventeen research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $60.88.

Several equities research analysts have recently issued reports on the stock. BTIG Research dropped their price objective on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Piper Sandler dropped their price objective on shares of Braze from $66.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, June 7th. Citigroup increased their price objective on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. TD Cowen dropped their price objective on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Oppenheimer reissued an “outperform” rating and issued a $60.00 price objective on shares of Braze in a research report on Wednesday, June 12th.

Braze Stock Up 1.5 %

NASDAQ:BRZE opened at $39.41 on Friday. The company has a market cap of $4.01 billion, a P/E ratio of -30.79 and a beta of 1.06. Braze has a fifty-two week low of $33.93 and a fifty-two week high of $61.53. The firm’s 50 day moving average is $39.29 and its two-hundred day moving average is $47.35.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. The company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. Research analysts forecast that Braze will post -1.21 earnings per share for the current fiscal year.

Insider Activity at Braze

In other Braze news, CEO William Magnuson sold 17,839 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the transaction, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Braze news, CEO William Magnuson sold 17,839 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the transaction, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Myles Kleeger sold 9,177 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $41.76, for a total transaction of $383,231.52. Following the transaction, the insider now directly owns 221,906 shares of the company’s stock, valued at $9,266,794.56. The disclosure for this sale can be found here. In the last three months, insiders sold 80,232 shares of company stock valued at $3,360,249. Corporate insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its position in shares of Braze by 6.6% in the 3rd quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock worth $256,000 after buying an additional 335 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Braze by 60.4% in the 3rd quarter. Rhumbline Advisers now owns 70,821 shares of the company’s stock worth $3,309,000 after buying an additional 26,681 shares during the last quarter. Northern Trust Corp lifted its position in shares of Braze by 40.7% in the 3rd quarter. Northern Trust Corp now owns 481,835 shares of the company’s stock worth $22,516,000 after buying an additional 139,416 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of Braze in the 3rd quarter worth about $29,000. Finally, Quadrature Capital Ltd lifted its position in shares of Braze by 11.7% in the 3rd quarter. Quadrature Capital Ltd now owns 62,126 shares of the company’s stock worth $2,902,000 after buying an additional 6,518 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.