Braze, Inc. (NASDAQ:BRZE) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $55.32.

Several analysts have commented on BRZE shares. JPMorgan Chase & Co. decreased their price target on shares of Braze from $55.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $70.00 price target on shares of Braze in a report on Tuesday, September 24th. Piper Sandler reduced their price objective on Braze from $51.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Macquarie initiated coverage on Braze in a research note on Thursday. They set a "neutral" rating and a $30.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on Braze in a research report on Tuesday, October 22nd. They set a "buy" rating and a $37.00 price target on the stock.

Braze Stock Up 0.7 %

Shares of BRZE traded up $0.21 during mid-day trading on Friday, hitting $31.67. 760,510 shares of the company's stock were exchanged, compared to its average volume of 1,024,952. Braze has a 52 week low of $29.18 and a 52 week high of $61.53. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of -26.86 and a beta of 1.03. The stock's 50-day simple moving average is $34.89 and its 200-day simple moving average is $38.10.

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

Insider Buying and Selling at Braze

In related news, major shareholder Roger H. Lee sold 56,830 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now owns 56,830 shares of the company's stock, valued at approximately $1,720,244.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the transaction, the insider now owns 56,830 shares of the company's stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Pankaj Malik sold 2,453 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $101,480.61. Following the completion of the sale, the chief accounting officer now directly owns 70,527 shares of the company's stock, valued at approximately $2,917,701.99. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,658 shares of company stock valued at $7,980,396. Insiders own 24.03% of the company's stock.

Institutional Investors Weigh In On Braze

A number of large investors have recently made changes to their positions in the business. Covestor Ltd lifted its holdings in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company's stock valued at $41,000 after purchasing an additional 738 shares during the last quarter. Quarry LP acquired a new position in Braze in the 2nd quarter valued at $50,000. Comerica Bank raised its position in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company's stock valued at $54,000 after purchasing an additional 276 shares during the period. Amalgamated Bank lifted its position in shares of Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after purchasing an additional 358 shares during the last quarter. Finally, Canton Hathaway LLC increased its stake in shares of Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company's stock valued at $77,000 after purchasing an additional 1,187 shares during the period. 90.47% of the stock is currently owned by institutional investors.

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.