Braze (NASDAQ:BRZE) Rating Reiterated by Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Braze (NASDAQ:BRZE - Free Report) in a report issued on Wednesday morning, Benzinga reports. Oppenheimer currently has a $60.00 target price on the stock.

A number of other analysts also recently weighed in on the stock. Canaccord Genuity Group increased their price target on shares of Braze from $50.00 to $53.00 and gave the company a buy rating in a research report on Friday, June 7th. Citigroup lifted their target price on Braze from $52.00 to $58.00 and gave the company a buy rating in a research report on Friday, June 7th. TD Cowen cut their price target on shares of Braze from $65.00 to $52.00 and set a buy rating for the company in a research note on Friday, May 31st. BTIG Research reduced their target price on Braze from $68.00 to $62.00 and set a buy rating for the company in a research note on Friday, May 31st. Finally, Needham & Company LLC reiterated a buy rating and set a $70.00 price objective on shares of Braze in a research report on Friday, June 7th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Braze has an average rating of Moderate Buy and an average price target of $60.88.

Braze Price Performance

Shares of NASDAQ:BRZE traded up $1.33 during midday trading on Wednesday, reaching $37.56. The company's stock had a trading volume of 2,327,307 shares, compared to its average volume of 896,560. The business's fifty day simple moving average is $40.73 and its 200-day simple moving average is $49.19. The company has a market capitalization of $3.79 billion, a P/E ratio of -30.25 and a beta of 1.06. Braze has a fifty-two week low of $35.47 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.01. The business had revenue of $135.46 million during the quarter, compared to analyst estimates of $131.56 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. On average, analysts forecast that Braze will post -1.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $51.32, for a total transaction of $76,980.00. Following the completion of the sale, the director now directly owns 11,056 shares in the company, valued at $567,393.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Phillip M. Fernandez sold 1,500 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $51.32, for a total value of $76,980.00. Following the completion of the sale, the director now directly owns 11,056 shares in the company, valued at approximately $567,393.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Susan Wiseman sold 7,600 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $43.06, for a total transaction of $327,256.00. Following the completion of the sale, the general counsel now owns 206,358 shares of the company's stock, valued at $8,885,775.48. The disclosure for this sale can be found here. Insiders sold a total of 79,114 shares of company stock worth $3,344,997 over the last three months. 24.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently made changes to their positions in BRZE. Fred Alger Management LLC bought a new stake in shares of Braze in the 3rd quarter worth approximately $29,000. Neo Ivy Capital Management purchased a new stake in Braze during the 4th quarter valued at $40,000. Covestor Ltd increased its position in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company's stock valued at $41,000 after acquiring an additional 738 shares during the period. Canton Hathaway LLC bought a new position in shares of Braze during the fourth quarter valued at about $42,000. Finally, Comerica Bank boosted its holdings in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company's stock worth $54,000 after purchasing an additional 276 shares during the period. 90.47% of the stock is currently 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.