Brokerages Set Braze, Inc. (NASDAQ:BRZE) PT at $51.25

Braze, Inc. (NASDAQ:BRZE - Get Free Report) has received an average rating of "Buy" from the twenty-one analysts that are currently covering the stock, Marketbeat.com 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $51.25.

A number of brokerages recently issued reports on BRZE. Stephens initiated 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. Raymond James increased their price objective on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, March 28th. DA Davidson dropped their target price on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company decreased their price target on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Canaccord Genuity Group boosted their price objective on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 28th.

Insider Transactions at Braze

In other news, CAO Pankaj Malik sold 2,585 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $105,519.70. Following the transaction, the chief accounting officer now owns 52,199 shares in the company, valued at $2,130,763.18. This represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $41.46, for a total transaction of $62,190.00. Following the sale, the director now owns 15,269 shares of the company's stock, valued at approximately $633,052.74. This represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,937 shares of company stock valued at $2,235,381 over the last ninety days. Corporate insiders own 24.03% of the company's stock.

Institutional Investors Weigh In On Braze

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRZE. Proficio Capital Partners LLC acquired a new position in shares of Braze in the fourth quarter worth $498,000. JPMorgan Chase & Co. increased its position in Braze by 146.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock worth $58,489,000 after purchasing an additional 1,075,998 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Braze during the 4th quarter worth about $708,000. Barclays PLC lifted its holdings in shares of Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company's stock valued at $3,472,000 after buying an additional 64,093 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Braze by 27.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock valued at $374,000 after buying an additional 1,938 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company's stock.

Braze Stock Performance

Shares of NASDAQ:BRZE traded up $0.19 during trading hours on Friday, hitting $31.41. The stock had a trading volume of 733,975 shares, compared to its average volume of 1,238,648. The stock's fifty day simple moving average is $34.00 and its 200 day simple moving average is $37.66. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -27.55 and a beta of 1.13. Braze has a 1-year low of $27.45 and a 1-year high of $48.33.

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

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.