Braze (NASDAQ:BRZE) Stock Rating Reaffirmed by JMP Securities

Braze (NASDAQ:BRZE)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $68.00 price objective on the stock. JMP Securities’ price objective suggests a potential upside of 109.23% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Barclays reduced their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $51.00 price objective on shares of Braze in a research note on Friday, September 6th. DA Davidson reissued a “buy” rating and issued a $65.00 price target on shares of Braze in a research note on Friday, September 6th. Citigroup upped their price target on Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, BTIG Research reduced their price objective on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Eighteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $60.82.

Braze Stock Performance

Shares of NASDAQ BRZE traded down $2.13 during midday trading on Tuesday, reaching $32.50. The company’s stock had a trading volume of 251,713 shares, compared to its average volume of 980,916. The company has a market cap of $3.30 billion, a P/E ratio of -25.39 and a beta of 1.07. The business’s 50 day moving average price is $40.38 and its two-hundred day moving average price is $41.22. Braze has a fifty-two week low of $32.10 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly 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. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. During the same period last year, the company posted ($0.30) EPS. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. Sell-side analysts forecast that Braze will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 2,262 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the completion of the sale, the chief accounting officer now owns 74,361 shares in the company, valued at approximately $2,836,128.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Isabelle Winkles sold 4,500 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the sale, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Pankaj Malik sold 2,262 shares of Braze stock in a transaction dated Friday, June 28th. The stock was 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 directly owns 74,361 shares of the company’s stock, valued at approximately $2,836,128.54. The disclosure for this sale can be found here. Insiders sold a total of 188,727 shares of company stock worth $8,140,693 over the last three months. 24.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently made changes to their positions in BRZE. Neo Ivy Capital Management purchased a new position in Braze in the 4th quarter worth approximately $40,000. Covestor Ltd lifted its stake in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares during the period. Quarry LP purchased a new position in shares of Braze in the second quarter worth approximately $50,000. Comerica Bank grew its position in Braze by 29.4% during 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. Finally, Canton Hathaway LLC increased its holdings in Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after buying an additional 1,187 shares during the last quarter. Hedge funds and other institutional investors 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.