Braze (NASDAQ:BRZE) Upgraded at Macquarie

Macquarie upgraded shares of Braze (NASDAQ:BRZE) to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

BRZE has been the topic of a number of other reports. Stifel Nicolaus assumed coverage on shares of Braze in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 target price on the stock. UBS Group decreased their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Braze in a research note on Tuesday, September 24th. Barclays reduced their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Braze presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

Braze Trading Up 0.7 %

Shares of Braze stock opened at $31.67 on Wednesday. The firm has a market capitalization of $3.25 billion, a PE ratio of -26.84 and a beta of 1.03. Braze has a twelve month low of $29.18 and a twelve month high of $61.53. The firm’s 50-day moving average price is $34.62 and its 200 day moving average price is $38.04.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same period last year, the company posted ($0.30) EPS. Braze’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts predict that Braze will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Pankaj Malik sold 2,453 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $101,480.61. Following the transaction, the chief accounting officer now owns 70,527 shares of the company’s stock, valued at approximately $2,917,701.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,658 shares of company stock worth $7,980,396. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BRZE. Stephens Investment Management Group LLC bought a new position in shares of Braze in the 3rd quarter worth about $20,794,000. Granite Investment Partners LLC acquired a new position in shares of Braze in the 2nd quarter worth approximately $12,925,000. Point72 Asset Management L.P. purchased a new position in shares of Braze in the second quarter worth approximately $10,166,000. Peregrine Capital Management LLC purchased a new position in shares of Braze in the second quarter worth approximately $7,349,000. Finally, Industry Ventures L.L.C. purchased a new position in shares of Braze in the second quarter worth approximately $7,332,000. 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.