Braze (NASDAQ:BRZE) Upgraded at Macquarie

Macquarie upgraded shares of Braze (NASDAQ:BRZE) to a hold rating in a research report released on Wednesday, Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Barclays lowered their price target on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Loop Capital reiterated a “buy” rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. TD Cowen lowered their price target on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus started coverage on Braze in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.32.

Braze Price Performance

Shares of NASDAQ BRZE opened at $31.67 on Wednesday. The stock has a market capitalization of $3.25 billion, a P/E ratio of -26.84 and a beta of 1.03. Braze has a 1-year low of $29.18 and a 1-year high of $61.53. The business has a fifty day moving average price of $34.89 and a 200 day moving average price of $38.10.

Braze (NASDAQ:BRZE) last announced its 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 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 period in the prior year, the company posted ($0.30) EPS. As a group, equities research analysts anticipate that Braze will post -1.02 earnings per share for the current fiscal year.

Insider Activity at Braze

In related news, Director Fernando Machado sold 1,377 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Isabelle Winkles sold 8,207 shares of Braze stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $339,523.59. Following the completion of the transaction, the chief financial officer now owns 234,420 shares of the company’s stock, valued at $9,697,955.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 201,658 shares of company stock worth $7,980,396. Corporate insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd boosted its position in shares of Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after buying an additional 738 shares during the period. Quarry LP acquired a new position in shares of Braze during the second quarter worth approximately $50,000. Comerica Bank boosted its position in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the period. Amalgamated Bank raised its holdings 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 in the last quarter. Finally, Canton Hathaway LLC raised its holdings 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 in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.