Braze (BRZE) – Investment Analysts’ Weekly Ratings Changes

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

• 6/17/2024 – Braze had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $70.00 price target on the stock.
• 6/12/2024 – Braze had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $60.00 price target on the stock.
• 6/7/2024 – Braze had its price target lowered by analysts at Piper Sandler from $66.00 to $55.00. They now have an “overweight” rating on the stock.
• 6/7/2024 – Braze had its price target lowered by analysts at Raymond James from $65.00 to $55.00. They now have an “outperform” rating on the stock.
• 6/7/2024 – Braze had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $68.00 price target on the stock.
• 6/7/2024 – Braze had its price target raised by analysts at Citigroup Inc. from $52.00 to $58.00. They now have a “buy” rating on the stock.
• 6/7/2024 – Braze had its price target raised by analysts at Canaccord Genuity Group Inc. from $50.00 to $53.00. They now have a “buy” rating on the stock.
• 6/7/2024 – Braze had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $70.00 price target on the stock.
• 6/3/2024 – Braze had its price target lowered by analysts at Scotiabank from $58.00 to $48.00. They now have a “sector perform” rating on the stock.
• 5/31/2024 – Braze had its price target lowered by analysts at TD Cowen from $65.00 to $52.00. They now have a “buy” rating on the stock.
• 5/31/2024 – Braze had its price target lowered by analysts at BTIG Research from $68.00 to $62.00. They now have a “buy” rating on the stock.
• 5/29/2024 – Braze had its price target lowered by analysts at Oppenheimer Holdings Inc. from $75.00 to $60.00. They now have an “outperform” rating on the stock.
• 4/29/2024 – Braze had its price target lowered by analysts at Wells Fargo & Company from $75.00 to $65.00. They now have an “overweight” rating on the stock.

Braze Trading Up 0.9 %

Shares of Braze stock opened at $35.21 on Wednesday. The stock has a 50-day moving average price of $39.40 and a 200 day moving average price of $47.81. The company has a market cap of $3.58 billion, a P/E ratio of -27.51 and a beta of 1.06. Braze, Inc. has a 1 year low of $33.93 and a 1 year high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The company had revenue of $135.46 million during the quarter, compared to the consensus estimate of $131.56 million. On average, equities analysts forecast that Braze, Inc. will post -1.21 earnings per share for the current fiscal year.

Insider Transactions at Braze

In other news, CEO William Magnuson sold 17,839 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $41.76, for a total transaction of $744,956.64. Following the transaction, the chief executive officer now owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Braze news, CEO William Magnuson sold 17,839 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.76, for a total value of $744,956.64. Following the sale, the chief executive officer now owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Myles Kleeger sold 9,177 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $383,231.52. Following the completion of the sale, the insider now directly owns 221,906 shares in the company, valued at approximately $9,266,794.56. The disclosure for this sale can be found here. Insiders sold 80,232 shares of company stock valued at $3,360,249 in the last three months. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AGF Management Ltd. acquired a new stake in Braze in the 4th quarter valued at approximately $3,282,000. Morgan Stanley grew its holdings in shares of Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after purchasing an additional 899,894 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Braze during the 4th quarter worth approximately $5,397,000. New York State Common Retirement Fund grew its holdings in shares of Braze by 814.1% during the 4th quarter. New York State Common Retirement Fund now owns 178,514 shares of the company’s stock worth $9,484,000 after purchasing an additional 158,986 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of Braze during the 3rd quarter worth approximately $283,000. 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.