Braze, Inc. (NASDAQ:BRZE) Given Average Rating of “Buy” by Analysts

Shares of Braze, Inc. (NASDAQ:BRZE) have been given an average rating of “Buy” by the seventeen ratings firms that are covering the stock, Marketbeat reports. Seventeen research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $60.50.

A number of analysts recently issued reports on the company. Canaccord Genuity Group lifted their target price on Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, June 7th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Friday, September 6th. TD Cowen decreased their target price on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, May 31st. BTIG Research dropped their price target on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Finally, DA Davidson reissued a “buy” rating and issued a $65.00 price objective on shares of Braze in a research report on Friday, September 6th.

Braze Stock Up 1.0 %

NASDAQ:BRZE opened at $34.63 on Thursday. Braze has a twelve month low of $33.24 and a twelve month high of $61.53. The company has a market cap of $3.52 billion, a P/E ratio of -27.05 and a beta of 1.07. The business has a 50 day moving average price of $40.94 and a two-hundred day moving average price of $42.46.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping 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 26.10%. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter in the prior year, the company posted ($0.30) earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. As a group, analysts anticipate that Braze will post -1.21 earnings per share for the current fiscal year.

Insider Transactions at Braze

In other Braze news, CAO Pankaj Malik sold 2,618 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $35.23, for a total transaction of $92,232.14. Following the transaction, the chief accounting officer now owns 76,623 shares in the company, valued at approximately $2,699,428.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Pankaj Malik sold 2,618 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $35.23, for a total transaction of $92,232.14. Following the transaction, the chief accounting officer now directly owns 76,623 shares of the company’s stock, valued at $2,699,428.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the sale, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,345 shares of company stock worth $8,232,925. Company insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Neo Ivy Capital Management bought a new position in Braze in the fourth quarter valued at approximately $40,000. Covestor Ltd raised its holdings in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after buying an additional 738 shares in the last quarter. Comerica Bank lifted its position in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the last quarter. Quarry LP acquired a new stake in Braze in the second quarter valued at about $50,000. Finally, RiverPark Advisors LLC grew its position in Braze by 360.9% in the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after acquiring an additional 1,411 shares during 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.