Braze, Inc. (NASDAQ:BRZE) Receives $60.50 Average PT from Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have been assigned a consensus recommendation of “Buy” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Seventeen investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $60.50.

A number of research firms recently weighed in on BRZE. Raymond James decreased their target price on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, June 7th. BTIG Research decreased their price target on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Barclays decreased their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Piper Sandler reissued an “overweight” rating and issued a $51.00 price target on shares of Braze in a report on Friday, September 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Friday, September 6th.

Insider Buying and Selling at Braze

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the completion of the sale, the chief financial officer now owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Braze news, 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 transaction of $86,272.68. Following the completion of the sale, the chief accounting officer now owns 74,361 shares of the company’s stock, valued at approximately $2,836,128.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the sale, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The disclosure for this sale can be found here. Insiders sold 191,345 shares of company stock valued at $8,232,925 in the last quarter. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Braze in the 2nd quarter worth about $10,166,000. Quarry LP purchased a new stake in shares of Braze in the 2nd quarter worth about $50,000. Creative Planning lifted its position in shares of Braze by 1.7% in the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after purchasing an additional 384 shares during the period. Algert Global LLC purchased a new stake in shares of Braze in the 2nd quarter worth about $2,376,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Braze in the 2nd quarter worth about $971,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Trading Down 1.7 %

Braze stock opened at $34.99 on Thursday. The firm’s 50 day simple moving average is $40.64 and its 200 day simple moving average is $41.74. The firm has a market capitalization of $3.56 billion, a PE ratio of -27.34 and a beta of 1.07. Braze has a 1-year low of $33.24 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE) last posted 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 business had revenue of $145.50 million for 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 quarter in the prior year, the firm posted ($0.30) EPS. Research analysts forecast that Braze will post -1.05 earnings per share for the current year.

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.