Braze (NASDAQ:BRZE) Receives Buy Rating from Loop Capital

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating restated by analysts at Loop Capital in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $75.00 price objective on the stock. Loop Capital’s price target indicates a potential upside of 116.61% from the stock’s current price.

BRZE has been the subject of several other research reports. Barclays decreased their target price on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. TD Cowen reduced 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. Canaccord Genuity Group boosted their target price on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Citigroup raised their price target on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, Raymond James dropped their price objective on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, June 7th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Braze presently has an average rating of “Buy” and an average target price of $60.82.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $34.63 on Tuesday. The company’s 50 day moving average price is $40.38 and its 200-day moving average price is $41.22. Braze has a 52-week low of $33.24 and a 52-week high of $61.53. The company has a market capitalization of $3.52 billion, a P/E ratio of -27.05 and a beta of 1.07.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. Braze’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts forecast that Braze will post -1.05 earnings per share for the current year.

Insider Buying and Selling

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the transaction, the chief financial officer now directly owns 242,627 shares in the company, valued at approximately $9,477,010.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Isabelle Winkles sold 4,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $39.06, for a total value of $175,770.00. Following the completion of the sale, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 2,262 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $38.14, for a total transaction of $86,272.68. Following the transaction, the chief accounting officer now directly owns 74,361 shares in the company, valued at $2,836,128.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,727 shares of company stock worth $8,140,693. 24.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Braze

Several institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. boosted its position in Braze by 537.4% in the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after purchasing an additional 1,287,500 shares during the last quarter. Norges Bank purchased a new stake in shares of Braze during the 4th quarter valued at $37,584,000. Vanguard Group Inc. raised its stake in shares of Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after purchasing an additional 480,179 shares during the period. Granite Investment Partners LLC purchased a new position in shares of Braze in the 2nd quarter worth about $12,925,000. Finally, Point72 Asset Management L.P. bought a new position in Braze during the second quarter valued at about $10,166,000. 90.47% of the stock is owned by institutional investors.

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.