Braze, Inc. (NASDAQ:BRZE) Receives $54.47 Consensus Target Price from Analysts

Braze, Inc. (NASDAQ:BRZE) has received a consensus rating of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $53.95.

A number of brokerages have weighed in on BRZE. Loop Capital reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Braze in a report on Tuesday, September 24th. Piper Sandler decreased their price target on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. UBS Group cut their price objective on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Oppenheimer decreased their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. Finally, Barclays cut their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th.

Braze Price Performance

Braze stock opened at $38.82 on Tuesday. The business has a 50 day simple moving average of $33.22 and a 200-day simple moving average of $37.38. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The stock has a market capitalization of $3.99 billion, a PE ratio of -32.90 and a beta of 1.03.

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

Insider Activity

In related news, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the transaction, the director now owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $43.41, for a total transaction of $195,345.00. Following the sale, the chief financial officer now owns 216,208 shares in the company, valued at approximately $9,385,589.28. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,479 shares of company stock worth $4,414,911 over the last three months. 24.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Braze

Several large investors have recently added to or reduced their stakes in BRZE. Virtu Financial LLC acquired a new stake in Braze in the 3rd quarter worth about $253,000. Geode Capital Management LLC boosted its position in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares during the last quarter. Vestcor Inc acquired a new stake in shares of Braze in the third quarter worth approximately $1,617,000. Bullseye Asset Management LLC grew its holdings in Braze by 14.3% in the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock valued at $801,000 after purchasing an additional 3,100 shares during the period. Finally, Barclays PLC increased its position in Braze by 148.1% during the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after purchasing an additional 64,093 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other 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.