Raymond James Forecasts Strong Price Appreciation for Braze (NASDAQ:BRZE) Stock

Braze (NASDAQ:BRZE) had its target price lifted by analysts at Raymond James from $45.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 27.97% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Macquarie boosted their target price on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the company a “buy” rating in a research note on Friday. Piper Sandler upped their target price on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. DA Davidson reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Braze in a report on Friday. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $53.00.

Braze Trading Up 2.2 %

Braze stock opened at $37.51 on Friday. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17. The stock’s 50 day moving average is $39.66 and its 200-day moving average is $38.01. Braze has a 12 month low of $29.18 and a 12 month high of $48.33.

Braze (NASDAQ:BRZE) last released its quarterly 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. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same period in the prior year, the company posted ($0.04) earnings per share. Braze’s revenue was up 22.4% compared to the same quarter last year. As a group, equities research analysts predict that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the transaction, the chief accounting officer now directly owns 54,784 shares in the company, valued at $2,507,463.68. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $637,280.00. Following the completion of the sale, the general counsel now directly owns 199,520 shares of the company’s stock, valued at approximately $9,082,150.40. The trade was a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock worth $3,841,921 in the last three months. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after acquiring an additional 57,713 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Braze in the third quarter worth approximately $673,000. Proficio Capital Partners LLC bought a new position in shares of Braze in the fourth quarter valued at approximately $498,000. Holocene Advisors LP boosted its position in shares of Braze by 52.7% during the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after buying an additional 29,123 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares during the last quarter. 90.47% of the stock is owned by institutional investors.

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.