Braze (NASDAQ:BRZE) Raised to “Hold” at Macquarie

Braze (NASDAQ:BRZE) was upgraded by equities researchers at Macquarie to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

Several other research analysts have also commented on BRZE. UBS Group decreased their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Loop Capital restated a “buy” rating and issued a $75.00 price objective on shares of Braze in a report on Tuesday, September 24th. Stifel Nicolaus initiated coverage on shares of Braze in a report on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 price objective for the company. Finally, DA Davidson decreased their price objective on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

Braze Stock Down 1.7 %

NASDAQ:BRZE opened at $31.46 on Wednesday. The company has a fifty day moving average of $35.13 and a 200 day moving average of $38.14. Braze has a 52 week low of $29.18 and a 52 week high of $61.53. The firm has a market capitalization of $3.23 billion, a P/E ratio of -26.66 and a beta of 1.03.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS 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 company had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same period in the prior year, the business posted ($0.30) EPS. The firm’s revenue was up 26.4% compared to the same quarter last year. As a group, analysts anticipate that Braze will post -1.02 EPS for the current year.

Insider Buying and Selling at Braze

In other news, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Myles Kleeger sold 9,178 shares of Braze stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $379,693.86. Following the completion of the sale, the insider now directly owns 206,340 shares in the company, valued at $8,536,285.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,658 shares of company stock worth $7,980,396. 24.03% of the stock is owned by corporate insiders.

Institutional Trading of Braze

A number of large investors have recently made changes to their positions in BRZE. Covestor Ltd grew its stake in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the period. Quarry LP bought a new stake in Braze during the second quarter valued at approximately $50,000. Comerica Bank grew its position in Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the period. Amalgamated Bank grew its position in 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 buying an additional 358 shares during the period. Finally, Canton Hathaway LLC grew its position in Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after buying an additional 1,187 shares during the period. 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.