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

Shares of Braze, Inc. (NASDAQ:BRZE) have received a consensus rating of “Buy” from the twenty-one research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $53.00.

BRZE has been the topic of a number of research analyst reports. Piper Sandler upped their target price on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Stephens began coverage on Braze in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective on the stock. Macquarie lifted their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group upped their target price on Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Finally, Oppenheimer restated an “outperform” rating and set a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th.

Insider Activity

In other Braze news, CAO Pankaj Malik sold 3,700 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total transaction of $64,695.00. Following the transaction, the director now owns 15,269 shares in the company, valued at $658,551.97. The trade was a 8.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,470 shares of company stock worth $3,841,921. Insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after purchasing an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after purchasing an additional 928 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Braze during the fourth quarter worth about $47,000. Finally, Plato Investment Management Ltd purchased a new stake in Braze in the fourth quarter valued at approximately $115,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Stock Up 2.2 %

Shares of Braze stock opened at $37.51 on Monday. The stock’s fifty day moving average is $39.66 and its two-hundred day moving average is $38.03. Braze has a 52 week low of $29.18 and a 52 week high of $48.33. The company has a market capitalization of $3.88 billion, a PE ratio of -32.90 and a beta of 1.17.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $160.40 million during 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) earnings per share. As a group, research analysts anticipate that Braze will post -0.98 earnings per share for the current 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.