Braze, Inc. (NASDAQ:BRZE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $60.88.

BRZE has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their target price on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, March 28th. Citigroup raised their target price on Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. DA Davidson restated a “buy” rating and issued a $65.00 target price on shares of Braze in a research note on Monday, March 25th. Finally, JMP Securities restated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research note on Friday, June 7th.

Braze Trading Up 2.0 %

Shares of NASDAQ BRZE opened at $38.84 on Friday. The stock has a market capitalization of $3.95 billion, a PE ratio of -30.34 and a beta of 1.06. The stock’s fifty day simple moving average is $39.30 and its two-hundred day simple moving average is $47.56. Braze has a 12-month low of $33.93 and a 12-month high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $135.46 million during the quarter, compared to analyst estimates of $131.56 million. On average, equities analysts predict that Braze will post -1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Braze news, General Counsel Susan Wiseman sold 7,600 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $43.06, for a total value of $327,256.00. Following the transaction, the general counsel now directly owns 206,358 shares of the company’s stock, valued at approximately $8,885,775.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Myles Kleeger sold 9,177 shares of Braze stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $383,231.52. Following the sale, the insider now owns 221,906 shares of the company’s stock, valued at approximately $9,266,794.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Susan Wiseman sold 7,600 shares of Braze stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $43.06, for a total transaction of $327,256.00. Following the sale, the general counsel now directly owns 206,358 shares in the company, valued at approximately $8,885,775.48. The disclosure for this sale can be found here. Insiders have sold 80,232 shares of company stock valued at $3,360,249 in the last ninety days. 24.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. HighTower Advisors LLC raised its position in Braze by 6.6% in the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock valued at $256,000 after purchasing an additional 335 shares during the period. Rhumbline Advisers raised its position in Braze by 60.4% in the third quarter. Rhumbline Advisers now owns 70,821 shares of the company’s stock valued at $3,309,000 after purchasing an additional 26,681 shares during the period. Northern Trust Corp raised its position in Braze by 40.7% in the third quarter. Northern Trust Corp now owns 481,835 shares of the company’s stock valued at $22,516,000 after purchasing an additional 139,416 shares during the period. Fred Alger Management LLC purchased a new stake in Braze in the third quarter valued at approximately $29,000. Finally, Quadrature Capital Ltd raised its position in Braze by 11.7% in the third quarter. Quadrature Capital Ltd now owns 62,126 shares of the company’s stock valued at $2,902,000 after purchasing an additional 6,518 shares during the period. Hedge funds and other institutional investors 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.