Braze, Inc. (NASDAQ:BRZE) Given Consensus Rating of “Moderate Buy” by Brokerages

Braze, Inc. (NASDAQ:BRZE) has earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $60.88.

Several analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $60.00 target price on shares of Braze in a research report on Wednesday, June 12th. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. JMP Securities reiterated a “market outperform” rating and set a $68.00 target price on shares of Braze in a research report on Friday, June 7th. Raymond James decreased their target price on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, June 7th. Finally, Canaccord Genuity Group lifted their target price on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 7th.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 2,262 shares of Braze stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $38.14, for a total transaction of $86,272.68. Following the completion of the sale, the chief accounting officer now owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Susan Wiseman sold 3,833 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.76, for a total transaction of $160,066.08. Following the completion of the transaction, the general counsel now directly owns 224,925 shares of the company’s stock, valued at approximately $9,392,868. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the sale, the chief accounting officer now owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The disclosure for this sale can be found here. Insiders sold 74,894 shares of company stock valued at $3,119,266 over the last quarter. 24.03% of the stock is currently owned by company insiders.

Institutional Trading of Braze

Several large investors have recently added to or reduced their stakes in BRZE. 1832 Asset Management L.P. grew its holdings in shares of Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after purchasing an additional 1,287,500 shares during the period. Morgan Stanley grew its holdings in shares of Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after purchasing an additional 899,894 shares during the period. Norges Bank acquired a new position in Braze during the 4th quarter worth about $37,584,000. Fiera Capital Corp purchased a new position in Braze during the 4th quarter valued at about $31,153,000. Finally, Vanguard Group Inc. boosted its holdings in Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Stock Up 0.2 %

Shares of BRZE opened at $39.54 on Friday. The company has a market cap of $4.02 billion, a PE ratio of -30.89 and a beta of 1.06. The business has a fifty day moving average of $39.23 and a 200 day moving average of $47.20. Braze has a 52-week low of $33.93 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. The company had revenue of $135.46 million during the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. As a group, research analysts anticipate that Braze will post -1.21 earnings per share for the current fiscal year.

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.