Braze (NASDAQ:BRZE) Given “Buy” Rating at Loop Capital

Loop Capital reissued their buy rating on shares of Braze (NASDAQ:BRZE) in a research note published on Tuesday morning, Benzinga reports. They currently have a $75.00 price objective on the stock.

BRZE has been the topic of a number of other reports. Barclays lowered their price target on Braze from $80.00 to $70.00 and set an overweight rating on the stock in a report on Monday, August 26th. JMP Securities reiterated a market outperform rating and issued a $68.00 price objective on shares of Braze in a report on Friday, September 6th. Oppenheimer restated an outperform rating and issued a $60.00 target price 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 boosted their price objective for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. Finally, TD Cowen lowered their target price on Braze from $65.00 to $52.00 and set a buy rating on the stock in a report on Friday, May 31st. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $59.18.

Braze Stock Performance

BRZE stock opened at $33.22 on Tuesday. Braze has a 1 year low of $31.80 and a 1 year high of $61.53. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -25.95 and a beta of 1.07. The stock’s fifty day moving average is $39.73 and its two-hundred day moving average is $40.82.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) EPS. As a group, analysts predict that Braze will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Magnuson sold 17,840 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $738,040.80. Following the transaction, the chief executive officer now directly owns 600,749 shares in the company, valued at $24,852,986.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Braze news, CEO William Magnuson sold 17,840 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $738,040.80. Following the completion of the sale, the chief executive officer now directly owns 600,749 shares of the company’s stock, valued at approximately $24,852,986.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Myles Kleeger sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 199,963 shares in the company, valued at $9,128,310.95. The disclosure for this sale can be found here. Insiders have sold a total of 186,465 shares of company stock worth $8,054,420 in the last three months. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new stake in shares of Braze in the 4th quarter valued at about $40,000. Covestor Ltd grew its stake in Braze by 401.1% in the first 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. Comerica Bank raised 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 purchasing an additional 276 shares during the period. Quarry LP bought a new stake in Braze during the 2nd quarter worth approximately $50,000. Finally, RiverPark Advisors LLC boosted its holdings in shares of Braze by 360.9% in the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after buying an additional 1,411 shares during the period. 90.47% of the stock is currently owned by institutional investors.

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.