Braze (NASDAQ:BRZE) Rating Reiterated by Loop Capital

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reiterated by Loop Capital in a research note issued on Tuesday, Benzinga reports. They presently have a $75.00 price target on the stock. Loop Capital’s price target suggests a potential upside of 116.61% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on BRZE. Citigroup boosted their target price on shares of Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, June 7th. DA Davidson reissued a “buy” rating and issued a $65.00 price objective on shares of Braze in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Braze in a report on Tuesday. Raymond James cut their price target on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, June 7th. Finally, BTIG Research lowered their price objective on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Eighteen investment analysts have rated the stock with a buy rating, According to MarketBeat, Braze currently has an average rating of “Buy” and a consensus target price of $60.82.

Braze Stock Down 4.9 %

Braze stock opened at $34.63 on Tuesday. The company’s 50-day moving average price is $40.38 and its two-hundred day moving average price is $41.22. The stock has a market cap of $3.52 billion, a P/E ratio of -27.05 and a beta of 1.07. Braze has a twelve month low of $33.24 and a twelve month 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, topping analysts’ consensus estimates of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) earnings per share. Equities analysts anticipate that Braze will post -1.05 earnings per share for the current fiscal year.

Insider Activity at Braze

In other Braze news, insider Myles Kleeger sold 50,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the completion of the transaction, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Braze news, insider Myles Kleeger sold 50,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the sale, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Pankaj Malik sold 2,262 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $38.14, for a total value of $86,272.68. Following the completion of the transaction, the chief accounting officer now owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The disclosure for this sale can be found here. Insiders have sold 188,727 shares of company stock valued at $8,140,693 over the last ninety days. 24.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BRZE. Vanguard Group Inc. boosted its position in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after buying an additional 148,366 shares during the period. Champlain Investment Partners LLC lifted its holdings in shares of Braze by 6.6% during the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after purchasing an additional 128,645 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Braze by 537.4% in the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after purchasing an additional 1,287,500 shares during the last quarter. Fiera Capital Corp increased its holdings in Braze by 1.0% in the second quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock valued at $30,320,000 after purchasing an additional 7,570 shares during the period. Finally, Norges Bank bought a new position in Braze during the 4th quarter worth $37,584,000. Institutional investors and hedge funds 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.