Pankaj Malik Sells 3,432 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the completion of the transaction, the chief accounting officer now owns 67,095 shares of the company’s stock, valued at $2,311,422.75. This trade represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Braze Stock Up 5.2 %

BRZE stock opened at $37.90 on Friday. The company has a fifty day simple moving average of $32.92 and a two-hundred day simple moving average of $37.48. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53. The firm has a market capitalization of $3.89 billion, a P/E ratio of -32.12 and a beta of 1.03.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business’s 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) earnings per share. As a group, analysts anticipate that Braze, Inc. will post -1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BRZE shares. DA Davidson dropped their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their target price on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Barclays dropped their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. TD Cowen decreased their target price 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. Finally, Oppenheimer reduced their target price on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Braze has an average rating of “Moderate Buy” and a consensus price target of $54.47.

Hedge Funds Weigh In On Braze

Several hedge funds have recently bought and sold shares of BRZE. Comerica Bank grew its stake in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Braze by 2.2% during the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after buying an additional 283 shares during the period. Advisors Asset Management Inc. lifted its stake in Braze by 17.8% in the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after acquiring an additional 290 shares during the period. American International Group Inc. raised its holdings in shares of Braze by 1.2% in the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after purchasing an additional 310 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the period. Institutional investors own 90.47% of the company’s stock.

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.