Braze’s (BRZE) “Buy” Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Braze (NASDAQ:BRZE) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $50.00 price target on the stock.

BRZE has been the topic of several other reports. Piper Sandler upped their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Stifel Nicolaus increased their price objective on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Braze in a research report on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Braze from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, Stephens started coverage on shares of Braze in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price target for the company. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $53.00.

Braze Trading Up 2.2 %

Shares of Braze stock opened at $37.51 on Wednesday. The business’s fifty day simple moving average is $39.66 and its 200 day simple moving average is $37.98. Braze has a 12 month low of $29.18 and a 12 month high of $48.33. The firm has a market capitalization of $3.88 billion, a P/E ratio of -32.90 and a beta of 1.17.

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

Insider Activity

In related news, 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 value of $335,603.80. Following the sale, the insider now directly owns 168,882 shares of the company’s stock, valued at $6,775,545.84. This trade represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now directly owns 564,766 shares in the company, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,470 shares of company stock valued at $3,841,921. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

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