Braze (NASDAQ:BRZE) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Braze (NASDAQ:BRZE) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $68.00 price target on the stock.

Several other brokerages also recently commented on BRZE. Barclays decreased their price objective on shares of Braze from $80.00 to $70.00 and set an overweight rating on the stock in a research report on Monday, August 26th. DA Davidson reaffirmed a buy rating and issued a $65.00 price objective on shares of Braze in a research note on Friday, September 6th. Loop Capital reiterated a buy rating and set a $75.00 target price on shares of Braze in a research report on Tuesday. BTIG Research dropped their price target 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, Citigroup lifted their price objective on shares of Braze from $52.00 to $58.00 and gave the company a buy rating in a research report on Friday, June 7th. Eighteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $59.18.

Braze Price Performance

NASDAQ:BRZE opened at $33.22 on Tuesday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -25.95 and a beta of 1.07. Braze has a one year low of $31.80 and a one year high of $61.53. The business has a fifty day moving average price of $39.73 and a 200-day moving average price of $40.82.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same period in the previous year, the company posted ($0.30) EPS. The firm’s revenue was up 26.4% on a year-over-year basis. On average, equities research analysts expect that Braze will post -1.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 3,447 shares of Braze stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the transaction, the general counsel now owns 206,930 shares in the company, valued at $9,104,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,104,920. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Myles Kleeger sold 50,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 199,963 shares in the company, valued at approximately $9,128,310.95. The disclosure for this sale can be found here. Insiders have sold 186,465 shares of company stock worth $8,054,420 over the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several large investors have recently bought and sold shares of BRZE. Comerica Bank boosted its position in shares of Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the period. Blair William & Co. IL grew its position in Braze by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after buying an additional 283 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Braze by 17.8% in the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after purchasing an additional 290 shares during the period. American International Group Inc. boosted its stake in shares of Braze by 1.2% in the first quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after buying an additional 310 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Braze by 1.7% in the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after purchasing an additional 384 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.