Raymond James Issues Positive Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE - Get Free Report) had its price objective increased by Raymond James from $45.00 to $48.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Raymond James' target price would suggest a potential upside of 34.55% from the company's previous close.

Other research analysts have also issued research reports about the company. DA Davidson reissued a "buy" rating and issued a $50.00 target price on shares of Braze in a report on Wednesday, March 26th. Macquarie raised their price objective on Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Canaccord Genuity Group lifted their price objective on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Braze in a report on Friday. Finally, Stephens initiated coverage on Braze in a research note on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target on the stock. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $53.00.

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Braze Stock Down 1.1 %

BRZE traded down $0.41 on Friday, reaching $35.67. The company's stock had a trading volume of 454,388 shares, compared to its average volume of 1,211,005. The stock has a 50 day moving average of $39.50 and a two-hundred day moving average of $38.04. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $48.33. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of -31.27 and a beta of 1.17.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The firm had revenue of $160.40 million for 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 firm'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. As a group, analysts anticipate that Braze will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the transaction, the general counsel now directly owns 182,109 shares of the company's stock, valued at $7,288,002.18. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Myles Kleeger sold 10,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.43, for a total transaction of $454,300.00. Following the transaction, the insider now owns 184,396 shares in the company, valued at $8,377,110.28. This trade represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock worth $3,841,921 in the last 90 days. 24.03% of the stock is owned by company insiders.

Institutional Trading of Braze

Several institutional investors have recently added to or reduced their stakes in BRZE. Tower Research Capital LLC TRC lifted its holdings in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after purchasing an additional 405 shares during 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 boosted its holdings in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after buying an additional 928 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Braze during the 4th quarter worth $47,000. Finally, Plato Investment Management Ltd purchased a new position in Braze in the 4th quarter worth about $115,000. Institutional investors own 90.47% of the company's stock.

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.