Braze (NASDAQ:BRZE) Earns “Buy” Rating from DA Davidson

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reiterated by equities researchers at DA Davidson in a research report issued on Wednesday,Benzinga reports. They presently have a $50.00 price target on the stock. DA Davidson’s price target suggests a potential upside of 36.24% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Wells Fargo & Company decreased their target price on Braze from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Piper Sandler raised their price target on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $52.05.

Braze Price Performance

Braze stock opened at $36.70 on Wednesday. The stock’s 50 day moving average price is $39.80 and its 200 day moving average price is $37.97. Braze has a 1-year low of $29.18 and a 1-year high of $48.33. The company has a market cap of $3.80 billion, a PE ratio of -32.19 and a beta of 1.17.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. On average, equities research analysts anticipate that Braze will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the transaction, the general counsel now owns 189,520 shares of the company’s stock, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,700 shares of Braze stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.77, for a total transaction of $169,349.00. Following the completion of the transaction, the chief accounting officer now owns 54,784 shares in the company, valued at approximately $2,507,463.68. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,470 shares of company stock worth $3,841,921. 24.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently added to or reduced their stakes in BRZE. Tower Research Capital LLC TRC lifted its stake in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd raised its holdings in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after buying an additional 827 shares during the period. EverSource Wealth Advisors LLC grew its stake in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after buying an additional 928 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Braze in the fourth quarter worth $47,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Braze in the 4th quarter valued at $115,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.