Braze (NASDAQ:BRZE) Price Target Raised to $55.00

Braze (NASDAQ:BRZE) had its price target increased by Citigroup from $50.00 to $55.00 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Stephens assumed coverage on Braze in a report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price on the stock. Macquarie boosted their price target on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Piper Sandler raised their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Raymond James lifted their price objective on shares of Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Braze presently has an average rating of “Buy” and an average price target of $53.00.

Braze Stock Performance

Shares of BRZE opened at $37.51 on Friday. Braze has a one year low of $29.18 and a one year high of $48.33. The stock has a 50-day moving average price of $39.66 and a 200 day moving average price of $37.98. The company has a market capitalization of $3.88 billion, a P/E ratio of -32.90 and a beta of 1.17.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The company had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. As a group, equities research analysts forecast that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In other Braze news, insider Myles Kleeger sold 8,365 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the sale, the insider now directly owns 168,882 shares in the company, valued at $6,775,545.84. This represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Susan Wiseman sold 14,000 shares of Braze stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.52, for a total value of $637,280.00. Following the transaction, the general counsel now owns 199,520 shares in the company, valued at approximately $9,082,150.40. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,470 shares of company stock valued at $3,841,921. Company insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after purchasing an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after purchasing an additional 928 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Braze during the fourth quarter worth approximately $47,000. Finally, Plato Investment Management Ltd acquired a new position in Braze in the fourth quarter worth approximately $115,000. Institutional investors own 90.47% of the company’s stock.

About Braze

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.