Analysts’ Weekly Ratings Changes for Braze (BRZE)

A number of firms have modified their ratings and price targets on shares of Braze (NASDAQ: BRZE) recently:

• 9/6/2024 – Braze had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $51.00 price target on the stock.
• 9/6/2024 – Braze had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $68.00 price target on the stock.
• 9/6/2024 – Braze had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $65.00 price target on the stock.
• 9/6/2024 – Braze had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $70.00 price target on the stock.
• 8/26/2024 – Braze had its price target lowered by analysts at Barclays PLC from $80.00 to $70.00. They now have an “overweight” rating on the stock.

Braze Stock Performance

Braze stock remained flat at $36.39 during mid-day trading on Friday. 3,415,168 shares of the company’s stock traded hands, compared to its average volume of 984,262. The firm has a market capitalization of $3.70 billion, a PE ratio of -28.43 and a beta of 1.07. Braze, Inc. has a 52-week low of $33.24 and a 52-week high of $61.53. The business has a fifty day moving average price of $40.55 and a 200 day moving average price of $41.65.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same period last year, the business posted ($0.30) earnings per share. Analysts expect that Braze, Inc. will post -1.05 EPS for the current fiscal year.

Insider Activity at Braze

In related news, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the sale, the general counsel now owns 206,930 shares in the company, valued at $9,104,920. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the transaction, the general counsel now owns 206,930 shares in the company, valued at $9,104,920. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 1,381 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $41.12, for a total transaction of $56,786.72. Following the transaction, the chief accounting officer now owns 72,980 shares of the company’s stock, valued at approximately $3,000,937.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,727 shares of company stock worth $8,140,693. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of BRZE. Point72 Asset Management L.P. bought a new position in shares of Braze during the second quarter worth $10,166,000. Quarry LP bought a new stake in Braze in the 2nd quarter valued at $50,000. Creative Planning lifted its position in Braze by 1.7% in the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after acquiring an additional 384 shares in the last quarter. Algert Global LLC bought a new stake in Braze in the 2nd quarter valued at $2,376,000. Finally, Mackenzie Financial Corp bought a new stake in Braze in the 2nd quarter valued at $971,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.