Raymond James Raises Braze (NASDAQ:BRZE) Price Target to $48.00

Braze (NASDAQ:BRZE) had its price objective increased by analysts at Raymond James from $45.00 to $48.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 25.72% from the stock’s previous close.

A number of other brokerages have also weighed in on BRZE. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. DA Davidson reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Braze in a research report on Wednesday. Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 target price (up previously from $50.00) on shares of Braze in a report on Friday. Piper Sandler upped their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Macquarie lifted their price target on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.00.

Braze Stock Up 4.0 %

Shares of BRZE traded up $1.48 during trading hours on Friday, reaching $38.18. The stock had a trading volume of 3,364,875 shares, compared to its average volume of 1,216,912. The company has a market cap of $3.95 billion, a P/E ratio of -33.44 and a beta of 1.17. Braze has a 52 week low of $29.18 and a 52 week high of $48.33. The firm has a 50-day moving average of $39.80 and a 200 day moving average of $37.97.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, equities analysts expect that Braze will post -0.98 earnings per share for the current year.

Insider Activity at Braze

In related news, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares in the company, valued at $23,053,748.12. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 14,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $45.52, for a total value of $637,280.00. Following the transaction, the general counsel now owns 199,520 shares of the company’s stock, valued at approximately $9,082,150.40. This represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,470 shares of company stock worth $3,841,921. 24.03% of the stock is owned by company insiders.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently modified their holdings of BRZE. Connor Clark & Lunn Investment Management Ltd. lifted its position in Braze by 14.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,083 shares of the company’s stock valued at $811,000 after purchasing an additional 3,180 shares during the period. Intech Investment Management LLC bought a new position in shares of Braze in the third quarter worth about $673,000. Charles Schwab Investment Management Inc. grew its holdings in Braze by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after buying an additional 57,713 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Braze by 5.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 36,344 shares of the company’s stock valued at $1,175,000 after purchasing an additional 1,751 shares during the last quarter. Finally, FMR LLC raised its stake in Braze by 393.1% during the third quarter. FMR LLC now owns 11,829 shares of the company’s stock valued at $383,000 after purchasing an additional 9,430 shares in the last quarter. Institutional investors 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.