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

Braze, Inc. (NASDAQ:BRZE) has earned a consensus rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $54.47.

BRZE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. JMP Securities reiterated a “market outperform” rating and set a $68.00 target price on shares of Braze in a research report on Tuesday, September 24th. DA Davidson cut their target price on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Barclays cut their target price on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th.

Insiders Place Their Bets

In other news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Myles Kleeger sold 6,342 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total value of $228,502.26. Following the completion of the sale, the insider now directly owns 184,396 shares of the company’s stock, valued at approximately $6,643,787.88. The trade was a 3.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,479 shares of company stock valued at $4,414,911 in the last 90 days. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Braze in the second quarter valued at about $50,000. Comerica Bank increased its stake in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the period. KBC Group NV grew its stake in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares during the period. Amalgamated Bank grew its stake in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the period. Finally, Canton Hathaway LLC grew its stake in Braze by 149.9% during 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. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Price Performance

BRZE opened at $39.12 on Tuesday. The business has a fifty day simple moving average of $33.07 and a 200 day simple moving average of $37.38. The company has a market capitalization of $4.02 billion, a PE ratio of -33.15 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 released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) EPS. Equities analysts anticipate that Braze will post -1.02 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.