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

Braze, Inc. (NASDAQ:BRZE) has earned a consensus rating of “Buy” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Seventeen investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $60.50.

BRZE has been the topic of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research note on Friday, September 6th. DA Davidson reissued a “buy” rating and set a $65.00 price target on shares of Braze in a report on Friday, September 6th. Citigroup upped their price objective on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Braze in a report on Friday, September 6th. Finally, BTIG Research reduced their price objective on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 31st.

Insider Activity at Braze

In related news, CAO Pankaj Malik sold 2,618 shares of Braze 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 sale, the chief accounting officer now directly owns 76,623 shares in the company, valued at $2,699,428.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Pankaj Malik sold 2,618 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $35.23, for a total transaction of $92,232.14. Following the completion of the transaction, the chief accounting officer now directly owns 76,623 shares in the company, valued at $2,699,428.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the transaction, the chief financial officer now owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The disclosure for this sale can be found here. Insiders have sold a total of 191,345 shares of company stock valued at $8,232,925 over the last 90 days. Insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several hedge funds and other institutional investors have recently made changes to their positions in BRZE. Comerica Bank raised its holdings in Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares during the period. Blair William & Co. IL raised its holdings in Braze by 2.2% during the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after acquiring an additional 283 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Braze by 17.8% in the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after buying an additional 290 shares in the last quarter. American International Group Inc. lifted its position in shares of Braze by 1.2% in the first quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after buying an additional 310 shares in the last quarter. Finally, Creative Planning increased its stake in Braze by 1.7% during the second quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after acquiring an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

BRZE stock opened at $35.10 on Thursday. The company has a fifty day moving average of $40.76 and a 200-day moving average of $42.04. The stock has a market capitalization of $3.57 billion, a PE ratio of -27.41 and a beta of 1.07. Braze has a one year low of $33.24 and a one year high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (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 25.89%. The company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. During the same period last year, the company earned ($0.30) EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. Equities analysts forecast that Braze will post -1.05 earnings per share for the current fiscal year.

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.