Braze (NASDAQ:BRZE) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Braze (NASDAQ:BRZE) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $37.00 price target on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 19.62% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Oppenheimer dropped their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. Piper Sandler decreased their price objective on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. TD Cowen lowered their target price on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. DA Davidson dropped their price objective on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, UBS Group reduced their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Nineteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze has an average rating of “Buy” and a consensus price target of $57.33.

Braze Stock Up 2.2 %

BRZE opened at $30.93 on Tuesday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -24.16 and a beta of 1.03. Braze has a twelve month low of $29.18 and a twelve month high of $61.53. The firm has a 50 day moving average price of $36.72 and a 200-day moving average price of $38.69.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the previous year, the company posted ($0.30) earnings per share. Braze’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, analysts expect that Braze will post -1.02 earnings per share for the current year.

Insider Transactions at Braze

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 7,079 shares of Braze stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $42.18, for a total value of $298,592.22. Following the completion of the sale, the general counsel now owns 221,840 shares in the company, valued at $9,357,211.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,737 shares of company stock worth $9,301,358. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in shares of Braze by 21.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock worth $19,973,000 after purchasing an additional 65,973 shares during the period. Vanguard Group Inc. lifted its stake in Braze by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after buying an additional 480,179 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of Braze by 10.2% during the first quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock valued at $561,000 after acquiring an additional 1,205 shares during the period. Diversified Trust Co lifted its holdings in shares of Braze by 28.1% in the first quarter. Diversified Trust Co now owns 20,728 shares of the company’s stock valued at $918,000 after purchasing an additional 4,551 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Braze by 0.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock worth $13,406,000 after acquiring an additional 984 shares in the last quarter. 90.47% of the stock is 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.