Braze, Inc. (NASDAQ:BRZE) Receives Consensus Rating of “Buy” from Analysts

Shares of Braze, Inc. (NASDAQ:BRZE) have earned a consensus recommendation of “Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. Seventeen analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $60.50.

BRZE has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $60.00 price objective on shares of Braze in a research report on Wednesday, June 12th. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Barclays reduced their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Citigroup raised their price objective 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Friday, September 6th.

Braze Trading Down 0.1 %

NASDAQ BRZE opened at $35.10 on Thursday. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -27.41 and a beta of 1.07. The company’s 50 day moving average is $40.76 and its two-hundred day moving average is $42.04. Braze has a 12 month low of $33.24 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping 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 firm had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the previous year, the company earned ($0.30) EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. Sell-side analysts forecast that Braze will post -1.05 EPS for the current year.

Insider Buying and Selling

In other news, insider Myles Kleeger sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the sale, the insider now directly owns 199,963 shares of the company’s stock, valued at approximately $9,128,310.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Myles Kleeger sold 50,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the sale, the insider now owns 199,963 shares in the company, valued at $9,128,310.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Pankaj Malik sold 2,618 shares of Braze stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $35.23, for a total value of $92,232.14. Following the completion of the transaction, the chief accounting officer now owns 76,623 shares in the company, valued at $2,699,428.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,345 shares of company stock worth $8,232,925. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Neo Ivy Capital Management purchased a new position in shares of Braze in the fourth quarter worth $40,000. Covestor Ltd grew its stake in Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after acquiring an additional 738 shares during the period. Quarry LP acquired a new stake in Braze during the 2nd quarter worth $50,000. Comerica Bank raised its holdings in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares during the period. Finally, Canton Hathaway LLC raised its holdings in Braze by 149.9% in the 2nd 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 period. 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.