Braze (NASDAQ:BRZE) Raised to Hold at Macquarie

Macquarie upgraded shares of Braze (NASDAQ:BRZE - Free Report) to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

A number of other brokerages have also weighed in on BRZE. DA Davidson reduced their target price on shares of Braze from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, September 24th. Stifel Nicolaus began coverage on Braze in a research report on Tuesday, October 22nd. They set a "buy" rating and a $37.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Braze from $55.00 to $47.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Loop Capital reaffirmed a "buy" rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Finally, Piper Sandler decreased their price target on shares of Braze from $51.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.32.

Braze Trading Up 0.7 %

Shares of NASDAQ:BRZE traded up $0.21 during midday trading on Wednesday, hitting $31.67. The company had a trading volume of 720,273 shares, compared to its average volume of 1,024,126. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The firm has a fifty day simple moving average of $35.13 and a 200 day simple moving average of $38.14. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -26.92 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 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 business had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. During the same period last year, the company posted ($0.30) EPS. Braze's revenue for the quarter was up 26.4% on a year-over-year basis. Equities analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In related news, insider Myles Kleeger sold 50,000 shares of Braze stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the sale, the insider now directly owns 199,963 shares in the company, valued at $9,128,310.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Myles Kleeger sold 50,000 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the completion of the transaction, the insider now directly owns 199,963 shares of the company's stock, valued at $9,128,310.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction dated 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 directly owns 56,830 shares in the company, valued at $1,720,244.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,658 shares of company stock worth $7,980,396. 24.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd grew its position in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company's stock worth $41,000 after buying an additional 738 shares during the period. Quarry LP acquired a new stake in Braze in the second quarter worth $50,000. Comerica Bank increased its stake 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 in the last quarter. Amalgamated Bank raised its holdings in shares of Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock valued at $73,000 after purchasing an additional 358 shares during the period. Finally, Canton Hathaway LLC boosted its position in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company's stock worth $77,000 after purchasing an additional 1,187 shares in the last quarter. 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.