Braze (NASDAQ:BRZE) Coverage Initiated by Analysts at Macquarie

Macquarie initiated coverage on shares of Braze (NASDAQ:BRZE - Free Report) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The firm issued a neutral rating and a $30.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. 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 report on Wednesday, September 25th. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price target on shares of Braze in a research report on Tuesday, September 24th. Piper Sandler dropped their price target on shares of Braze from $51.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, October 10th. JMP Securities reissued a "market outperform" rating and issued a $68.00 price target on shares of Braze in a research report on Tuesday, September 24th. Finally, Barclays dropped their price target on shares of Braze from $80.00 to $70.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Braze has an average rating of "Moderate Buy" and a consensus target price of $55.32.

Braze Price Performance

Shares of NASDAQ BRZE traded down $0.54 during mid-day trading on Thursday, hitting $31.46. The company had a trading volume of 734,916 shares, compared to its average volume of 1,026,371. The business's 50-day simple moving average is $35.13 and its 200-day simple moving average is $38.14. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The firm has a market cap of $3.23 billion, a P/E ratio of -26.81 and a beta of 1.03.

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 the consensus estimate 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 business had revenue of $145.50 million during the quarter, compared to analysts' expectations of $141.32 million. During the same quarter last year, the company earned ($0.30) earnings per share. The firm's revenue was up 26.4% on a year-over-year basis. As a group, sell-side analysts predict that Braze will post -1.02 EPS for the current year.

Insider Activity

In other news, CEO William Magnuson sold 17,840 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 $738,040.80. Following the sale, the chief executive officer now directly owns 600,749 shares of the company's stock, valued at $24,852,986.13. This represents a 0.00 % 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. In other Braze news, CEO William Magnuson sold 17,840 shares of the firm's 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 $738,040.80. Following the transaction, the chief executive officer now directly owns 600,749 shares of the company's stock, valued at approximately $24,852,986.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 8,207 shares of the firm's 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 $339,523.59. Following the completion of the transaction, the chief financial officer now directly owns 234,420 shares in the company, valued at approximately $9,697,955.40. 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 201,658 shares of company stock valued at $7,980,396 over the last three months. 24.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently bought and sold shares of BRZE. M&G Plc bought a new position in shares of Braze during the first quarter worth $6,724,000. Point72 Asset Management L.P. bought a new position in shares of Braze during the second quarter worth $10,166,000. Vanguard Group Inc. boosted its position in shares of Braze by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company's stock worth $261,146,000 after purchasing an additional 148,366 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of Braze during the first quarter worth $5,714,000. Finally, Mackenzie Financial Corp bought a new position in shares of Braze during the second quarter worth $971,000. 90.47% of the stock is owned by institutional investors.

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.