Braze (NASDAQ:BRZE) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Braze (NASDAQ:BRZE - Free Report) in a report released on Friday,Benzinga reports. Needham & Company LLC currently has a $50.00 price target on the stock.

A number of other analysts have also weighed in on the company. Macquarie increased their price objective on Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a "buy" rating in a report on Friday. Citigroup upped their price objective on shares of Braze from $47.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Raymond James cut their target price on Braze from $48.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, March 20th. Finally, Piper Sandler upped their price target on Braze from $40.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $53.00.

Braze Trading Down 1.3 %

Shares of BRZE stock traded down $0.47 during trading hours on Friday, hitting $35.61. 407,469 shares of the company's stock were exchanged, compared to its average volume of 1,210,736. Braze has a 12-month low of $29.18 and a 12-month high of $48.33. The company has a market capitalization of $3.68 billion, a PE ratio of -31.25 and a beta of 1.17. The business's 50 day simple moving average is $39.50 and its 200-day simple moving average is $38.04.

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Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm had revenue of $160.40 million for the quarter, compared to analysts' expectations of $155.72 million. During the same period last year, the firm earned ($0.04) earnings per share. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. Equities analysts anticipate that Braze will post -0.98 EPS for the current year.

Insider Activity

In related news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $43.13, for a total transaction of $64,695.00. Following the sale, the director now directly owns 15,269 shares of the company's stock, valued at $658,551.97. This trade represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 14,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.52, for a total value of $637,280.00. Following the completion of the transaction, the general counsel now directly owns 199,520 shares of the company's stock, valued at approximately $9,082,150.40. This trade represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock worth $3,841,921 over the last three months. 24.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

A number of large investors have recently made changes to their positions in BRZE. Wellington Management Group LLP purchased a new stake in Braze in the fourth quarter worth approximately $50,000,000. California State Teachers Retirement System grew its holdings in shares of Braze by 4.7% in the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company's stock worth $2,434,000 after acquiring an additional 2,605 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Braze during the fourth quarter valued at $1,868,000. State of Wyoming bought a new position in Braze in the fourth quarter valued at about $197,000. Finally, ProShare Advisors LLC boosted its position in Braze by 33.8% in the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company's stock worth $1,028,000 after purchasing an additional 6,200 shares during 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.