Analysts Set Braze, Inc. (NASDAQ:BRZE) Price Target at $53.00

Braze, Inc. (NASDAQ:BRZE) has been assigned a consensus recommendation of “Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $53.00.

BRZE has been the topic of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Braze in a research note on Friday, March 28th. Stephens assumed coverage on shares of Braze in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price on the stock. Piper Sandler upped their target price on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Citigroup raised their price target on Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 28th.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the sale, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at $2,507,463.68. The trade was a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Magnuson sold 18,050 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares of the company’s stock, 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. Insiders sold 90,970 shares of company stock valued at $3,904,111 over the last 90 days. 24.03% of the stock is currently owned by company insiders.

Institutional Trading of Braze

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after buying an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after acquiring an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Braze during the 4th quarter valued at about $47,000. Finally, Versant Capital Management Inc bought a new stake in shares of Braze in the 1st quarter worth approximately $54,000. Institutional investors own 90.47% of the company’s stock.

Braze Stock Down 5.4 %

Shares of Braze stock opened at $30.98 on Monday. The business has a 50-day moving average price of $38.61 and a 200 day moving average price of $37.97. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $48.33. The firm has a market cap of $3.21 billion, a P/E ratio of -27.18 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 for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) EPS. As a group, equities research analysts anticipate that Braze will post -0.98 earnings per share for the current year.

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.