Brokerages Set Braze, Inc. (NASDAQ:BRZE) Price Target at $59.18

Braze, Inc. (NASDAQ:BRZE - Get Free Report) has been given a consensus recommendation of "Buy" by the eighteen analysts that are presently covering the firm, Marketbeat.com reports. Eighteen equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $59.18.

Several analysts recently weighed in on the stock. Scotiabank upgraded shares of Braze from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Monday, August 26th. UBS Group dropped their price target on shares of Braze from $56.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Piper Sandler restated an "overweight" rating and issued a $51.00 price target on shares of Braze in a research note on Friday, September 6th. Finally, JMP Securities restated a "market outperform" rating and issued a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th.

Braze Stock Down 2.4 %

BRZE traded down $0.74 during trading on Monday, reaching $30.34. The company's stock had a trading volume of 658,992 shares, compared to its average volume of 1,007,604. The firm has a fifty day simple moving average of $38.84 and a two-hundred day simple moving average of $39.96. Braze has a 1 year low of $30.17 and a 1 year high of $61.53. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -23.75 and a beta of 1.03.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business's revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) EPS. As a group, equities analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insider Activity at Braze

In related news, CFO Isabelle Winkles sold 4,500 shares of the business's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $42.18, for a total value of $189,810.00. Following the completion of the sale, the chief financial officer now directly owns 242,627 shares of the company's stock, valued at $10,234,006.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Isabelle Winkles sold 4,500 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $42.18, for a total value of $189,810.00. Following the completion of the sale, the chief financial officer now directly owns 242,627 shares of the company's stock, valued at approximately $10,234,006.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 9,178 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $379,693.86. Following the completion of the sale, the insider now directly owns 206,340 shares of the company's stock, valued at $8,536,285.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,465 shares of company stock valued at $8,023,190 over the last ninety days. Insiders own 24.03% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company's stock valued at $261,146,000 after purchasing an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Braze by 6.6% during the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company's stock valued at $92,357,000 after buying an additional 128,645 shares during the period. Fiera Capital Corp lifted its stake in shares of Braze by 1.0% during the second quarter. Fiera Capital Corp now owns 780,630 shares of the company's stock valued at $30,320,000 after buying an additional 7,570 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Braze by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company's stock valued at $18,554,000 after buying an additional 73,764 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Braze by 10.9% during the second quarter. Victory Capital Management Inc. now owns 391,977 shares of the company's stock valued at $15,224,000 after buying an additional 38,504 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.