Braze’s (BRZE) “Buy” Rating Reaffirmed at Needham & Company LLC

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $50.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 33.30% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Stifel Nicolaus set a $50.00 target price on Braze and gave the stock a “buy” rating in a research note on Friday. Macquarie raised their target price on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Oppenheimer reissued an “outperform” rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. Wells Fargo & Company restated an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Braze in a research report on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Braze has an average rating of “Buy” and an average price target of $53.00.

Braze Stock Up 2.2 %

Shares of BRZE opened at $37.51 on Friday. Braze has a twelve month low of $29.18 and a twelve month high of $48.33. The stock has a market cap of $3.88 billion, a PE ratio of -32.90 and a beta of 1.17. The business’s 50-day moving average price is $39.66 and its 200-day moving average price is $38.01.

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

Insider Transactions at Braze

In other news, insider Myles Kleeger sold 8,365 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were 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 of the company’s stock, valued at approximately $6,775,545.84. This trade represents a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Magnuson sold 18,050 shares of Braze stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the sale, the chief executive officer now directly owns 564,766 shares in the company, valued at $23,053,748.12. The trade was a 3.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,470 shares of company stock worth $3,841,921. Company insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BRZE. Mercer Global Advisors Inc. ADV boosted its position in shares of Braze by 2.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock valued at $559,000 after purchasing an additional 316 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Braze by 3.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after buying an additional 346 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after buying an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after acquiring an additional 827 shares during the period. Finally, KBC Group NV boosted its stake in Braze by 39.7% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after acquiring an additional 832 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

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.