Braze (NASDAQ:BRZE) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Braze (NASDAQ:BRZE - Get Free Report) in a research note issued on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $37.00 price target on the stock. Stifel Nicolaus' price target points to a potential upside of 18.59% from the company's current price.

A number of other brokerages also recently weighed in on BRZE. JMP Securities reaffirmed a "market outperform" rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. Needham & Company LLC restated a "buy" rating and set a $70.00 target price on shares of Braze in a research note on Tuesday, September 24th. Loop Capital reiterated a "buy" rating and issued a $75.00 price target on shares of Braze in a research note 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. Finally, TD Cowen lowered their target price on Braze from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, September 24th. Nineteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze presently has an average rating of "Buy" and a consensus target price of $57.33.

Braze Stock Performance

NASDAQ:BRZE traded up $0.27 during mid-day trading on Tuesday, reaching $31.20. 867,923 shares of the company's stock were exchanged, compared to its average volume of 1,029,312. The firm has a market capitalization of $3.17 billion, a PE ratio of -24.16 and a beta of 1.03. Braze has a one year low of $29.18 and a one year high of $61.53. The business's fifty day simple moving average is $36.72 and its two-hundred day simple moving average is $38.69.

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

Insider Activity

In other news, Director Fernando Machado sold 1,377 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Fernando Machado sold 1,377 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $101,480.61. Following the transaction, the chief accounting officer now owns 70,527 shares in the company, valued at $2,917,701.99. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,737 shares of company stock worth $9,301,358 over the last ninety days. Company insiders own 24.03% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company's stock valued at $261,146,000 after buying an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in Braze by 6.6% during the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company's stock worth $92,357,000 after acquiring an additional 128,645 shares in the last quarter. Fiera Capital Corp grew its holdings in Braze by 1.0% in the second quarter. Fiera Capital Corp now owns 780,630 shares of the company's stock worth $30,320,000 after purchasing an additional 7,570 shares during the period. Bank of New York Mellon Corp increased 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 purchasing an additional 73,764 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings 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 purchasing an additional 38,504 shares during the last quarter. 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.