Braze (NASDAQ:BRZE) Price Target Raised to $55.00

Braze (NASDAQ:BRZE - Free Report) had its target price hoisted by Citigroup from $50.00 to $55.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently issued reports on BRZE. William Blair reiterated an "outperform" rating on shares of Braze in a research report on Thursday, December 19th. Piper Sandler raised their price target on Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Braze in a report on Friday. Stephens initiated coverage on Braze in a report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target for the company. Finally, Oppenheimer restated an "outperform" rating and set a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Braze has an average rating of "Buy" and a consensus target price of $53.00.

Braze Stock Performance

Shares of NASDAQ:BRZE traded down $0.41 during midday trading on Friday, reaching $35.67. 454,388 shares of the company's stock were exchanged, compared to its average volume of 1,211,005. The firm has a market capitalization of $3.69 billion, a PE ratio of -31.27 and a beta of 1.17. Braze has a 12 month low of $29.18 and a 12 month high of $48.33. The company's 50 day simple moving average is $39.50 and its two-hundred day simple moving average is $38.04.

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Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. The company had revenue of $160.40 million during the quarter, compared to analysts' expectations 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 revenue was up 22.4% on a year-over-year basis. During the same period last year, the business earned ($0.04) earnings per share. On average, research analysts anticipate that Braze will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 14,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.52, for a total value of $637,280.00. Following the completion of the transaction, the general counsel now owns 199,520 shares of the company's stock, valued at $9,082,150.40. The trade was a 6.56 % 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, Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $43.13, for a total transaction of $64,695.00. Following the sale, the director now directly owns 15,269 shares of the company's stock, valued at approximately $658,551.97. This trade represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock worth $3,841,921 over the last three months. Insiders own 24.03% of the company's stock.

Institutional Investors Weigh In On Braze

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised 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 worth $27,000 after acquiring an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of 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 acquiring an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Braze by 8,436.4% during 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 period. SBI Securities Co. Ltd. acquired a new position in shares of Braze in the fourth quarter worth approximately $47,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Braze in the 4th quarter worth approximately $115,000. Institutional investors and hedge funds own 90.47% of the company's stock.

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.