Braze (NASDAQ:BRZE) Price Target Raised to $55.00

Braze (NASDAQ:BRZE) had its price objective lifted by Citigroup from $50.00 to $55.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on BRZE. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Friday. DA Davidson reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Braze in a research note on Wednesday, March 26th. William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Canaccord Genuity Group boosted their price target on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $53.00.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $37.51 on Friday. Braze has a one year low of $29.18 and a one year high of $48.33. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17. The company’s fifty day moving average price is $39.66 and its 200-day moving average price is $38.03.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same quarter last year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities research analysts expect that Braze will post -0.98 EPS for the current year.

Insider Activity at Braze

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the transaction, the general counsel now directly owns 182,109 shares of the company’s stock, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 8,365 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the completion of the sale, the insider now directly owns 168,882 shares of the company’s stock, valued at approximately $6,775,545.84. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock worth $3,841,921 over the last quarter. 24.03% of the stock is owned by corporate insiders.

Institutional Trading of Braze

Several large investors have recently bought and sold shares of BRZE. Tower Research Capital LLC TRC lifted its stake in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after purchasing an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after buying an additional 928 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Braze during the 4th quarter valued at $47,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Braze in the 4th quarter worth about $115,000. 90.47% of the stock is 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.