Braze, Inc. (NASDAQ:BRZE) Receives Consensus Rating of “Buy” from Brokerages

Braze, Inc. (NASDAQ:BRZE) has earned an average rating of “Buy” from the eighteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eighteen investment analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $58.53.

Several equities research analysts have recently issued reports on BRZE shares. Piper Sandler lowered their price target on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a research report on Tuesday, September 24th. TD Cowen dropped their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Braze in a report on Tuesday, September 24th. Finally, UBS Group cut their price target on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th.

Braze Stock Performance

Braze stock opened at $30.71 on Monday. Braze has a 52 week low of $29.18 and a 52 week high of $61.53. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -23.99 and a beta of 1.03. The company has a 50 day moving average price of $37.64 and a 200 day moving average price of $39.36.

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

Insider Transactions at Braze

In other news, insider Myles Kleeger sold 9,178 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $379,693.86. Following the completion of the transaction, the insider now directly owns 206,340 shares in the company, valued at $8,536,285.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Myles Kleeger sold 9,178 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $379,693.86. Following the transaction, the insider now directly owns 206,340 shares in the company, valued at $8,536,285.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,284 shares of company stock valued at $7,928,732 over the last three months. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its position in Braze by 12.8% during the third quarter. Creative Planning now owns 26,089 shares of the company’s stock worth $844,000 after acquiring an additional 2,968 shares during the last quarter. Congress Park Capital LLC lifted its holdings in Braze by 4.5% during the 3rd quarter. Congress Park Capital LLC now owns 38,955 shares of the company’s stock worth $1,260,000 after purchasing an additional 1,671 shares during the last quarter. Diversified Trust Co lifted its holdings in Braze by 4.1% during the 3rd quarter. Diversified Trust Co now owns 26,697 shares of the company’s stock worth $863,000 after purchasing an additional 1,050 shares during the last quarter. SG Americas Securities LLC bought a new stake in Braze in the 3rd quarter valued at $634,000. Finally, Point72 Asset Management L.P. acquired a new position in Braze in the 2nd quarter valued at $10,166,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.