Braze (NASDAQ:BRZE) Now Covered by Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Braze (NASDAQ:BRZE) in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $37.00 target price on the stock.

Several other equities research analysts have also commented on the stock. Piper Sandler dropped their price objective on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Barclays dropped their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. TD Cowen dropped their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. UBS Group dropped their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, JMP Securities reissued a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Nineteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze has a consensus rating of “Buy” and a consensus price target of $57.33.

Braze Trading Up 0.9 %

Shares of BRZE opened at $31.20 on Tuesday. The firm’s 50-day moving average price is $36.51 and its 200-day moving average price is $38.61. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -24.38 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 announced its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) EPS. On average, research analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 56,830 shares of the company’s stock, valued at $1,720,244.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Braze 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 completion of the sale, the director now directly owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,737 shares of company stock valued at $9,301,358 over the last three months. 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. Covestor Ltd increased its holdings in Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after buying an additional 738 shares during the last quarter. Quarry LP purchased a new stake in Braze during the second quarter valued at approximately $50,000. Comerica Bank boosted its position in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the period. Canton Hathaway LLC boosted its position in shares of Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after purchasing an additional 1,187 shares during the period. Finally, RiverPark Advisors LLC boosted its position in shares of Braze by 360.9% in the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares during the period. 90.47% of the stock is 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.