Braze (NASDAQ:BRZE) Research Coverage Started at Macquarie

Macquarie assumed coverage on shares of Braze (NASDAQ:BRZE) in a research note issued to investors on Thursday morning, MarketBeat reports. The firm issued a neutral rating and a $30.00 price objective on the stock.

BRZE has been the subject of a number of other research reports. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Oppenheimer lowered their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. JPMorgan Chase & Co. cut their price objective on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Piper Sandler decreased their target price on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

Braze Stock Performance

Shares of Braze stock opened at $31.67 on Thursday. The business’s 50 day moving average price is $34.62 and its 200 day moving average price is $38.04. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -26.84 and a beta of 1.03. Braze has a one year low of $29.18 and a one year high of $61.53.

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

Insiders Place Their Bets

In other news, Director Fernando Machado sold 1,377 shares of the 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 transaction, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Braze news, Director Fernando Machado sold 1,377 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the transaction, the director now directly owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares of the company’s stock, valued at $1,720,244.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,658 shares of company stock valued at $7,980,396 in the last ninety days. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. raised its stake in shares of Braze by 7.6% during the third quarter. Assetmark Inc. now owns 27,181 shares of the company’s stock worth $879,000 after purchasing an additional 1,923 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in Braze during the 3rd quarter worth $1,122,000. M&G PLC lifted its stake in shares of Braze by 53.1% in the 3rd quarter. M&G PLC now owns 262,963 shares of the company’s stock worth $8,415,000 after acquiring an additional 91,161 shares during the period. Amalgamated Bank boosted its holdings in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Braze by 9.0% during the third quarter. Harbor Capital Advisors Inc. now owns 10,482 shares of the company’s stock worth $339,000 after acquiring an additional 866 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

About Braze

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.