Braze, Inc. (NASDAQ:BRZE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Braze, Inc. (NASDAQ:BRZE) have received an average recommendation of “Moderate Buy” from the twenty brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $55.32.

BRZE has been the topic of a number of research reports. Loop Capital reissued a “buy” rating and set a $75.00 target price on shares of Braze in a report on Tuesday, September 24th. Scotiabank raised shares of Braze from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $48.00 to $56.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus initiated coverage on shares of Braze in a report on Tuesday, October 22nd. They set a “buy” rating and a $37.00 target price on the stock. Finally, Oppenheimer reduced their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th.

Braze Price Performance

BRZE stock opened at $32.22 on Friday. The company has a 50 day simple moving average of $34.34 and a 200 day simple moving average of $37.96. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -26.65 and a beta of 1.03. Braze has a 1 year low of $29.18 and a 1 year high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the prior year, the company earned ($0.30) EPS. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts anticipate that Braze will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the transaction, the insider now directly owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the transaction, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Isabelle Winkles sold 8,207 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $339,523.59. Following the transaction, the chief financial officer now owns 234,420 shares in the company, valued at approximately $9,697,955.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,658 shares of company stock valued at $7,980,396 over the last ninety days. 24.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. M&G Plc purchased a new stake in shares of Braze in the first quarter valued at about $6,724,000. Point72 Asset Management L.P. purchased a new stake in shares of Braze in the second quarter valued at about $10,166,000. Vanguard Group Inc. raised its holdings in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Braze in the first quarter valued at about $5,714,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Braze in the second quarter valued at about $971,000. Institutional investors and hedge funds 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.