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

Shares of Braze, Inc. (NASDAQ:BRZE - Get Free Report) have earned an average recommendation of "Buy" from the twenty-one analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $53.00.

A number of equities research analysts have commented on the stock. Stephens started coverage on shares of Braze in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price for the company. Canaccord Genuity Group lifted their price objective on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday. Piper Sandler increased 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. Wells Fargo & Company reissued an "overweight" rating and issued a $55.00 target price (up from $50.00) on shares of Braze in a research report on Friday. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th.

Braze Stock Performance

Shares of BRZE stock traded up $0.29 during mid-day trading on Monday, hitting $36.37. The company's stock had a trading volume of 1,264,390 shares, compared to its average volume of 1,214,054. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of -31.90 and a beta of 1.17. Braze has a 52-week low of $29.18 and a 52-week high of $48.33. The business has a 50-day moving average price of $39.50 and a 200 day moving average price of $38.04.

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

Insider Activity

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 value of $169,349.00. Following the transaction, the chief accounting officer now directly owns 54,784 shares of the company's stock, valued at approximately $2,507,463.68. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Susan Wiseman sold 14,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $45.52, for a total transaction of $637,280.00. Following the sale, the general counsel now directly owns 199,520 shares of the company's stock, valued at approximately $9,082,150.40. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,970 shares of company stock worth $3,904,111 over the last ninety days. Corporate insiders own 24.03% of the company's stock.

Institutional Trading of Braze

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in shares of 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 purchasing an additional 405 shares in the last quarter. 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 valued at $35,000 after buying an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after buying an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Braze during the 4th quarter valued at approximately $47,000. Finally, Plato Investment Management Ltd bought a new stake in Braze in the 4th quarter worth approximately $115,000. 90.47% of the stock is currently 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.