Braze, Inc. (NASDAQ:BRZE) Receives $64.29 Consensus PT from Analysts

Shares of Braze, Inc. (NASDAQ:BRZE) have earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $64.29.

A number of research firms recently issued reports on BRZE. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 target price on shares of Braze in a report on Friday, April 5th. Raymond James decreased their price target on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. TD Cowen cut their price objective on Braze from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, March 28th.

Insider Activity

In other news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction on Monday, April 15th. The stock was sold at an average price of $41.79, for a total transaction of $62,685.00. Following the transaction, the director now owns 11,056 shares in the company, valued at $462,030.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Braze news, CEO William Magnuson sold 11,874 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $57.51, for a total value of $682,873.74. Following the sale, the chief executive officer now owns 636,514 shares of the company’s stock, valued at approximately $36,605,920.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $41.79, for a total transaction of $62,685.00. Following the completion of the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at approximately $462,030.24. The disclosure for this sale can be found here. Insiders sold 77,815 shares of company stock worth $4,164,679 over the last quarter. Corporate insiders own 26.48% of the company’s stock.

Hedge Funds Weigh In On Braze

Hedge funds have recently made changes to their positions in the stock. Creative Planning grew its position in Braze by 1.2% in the 4th quarter. Creative Planning now owns 21,827 shares of the company’s stock worth $1,160,000 after purchasing an additional 249 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Braze by 1.5% during the fourth quarter. Voya Investment Management LLC now owns 20,814 shares of the company’s stock valued at $1,106,000 after acquiring an additional 299 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Braze by 6.6% during the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock worth $256,000 after acquiring an additional 335 shares during the period. Legal & General Group Plc boosted its position in Braze by 4.3% in the fourth quarter. Legal & General Group Plc now owns 8,303 shares of the company’s stock worth $227,000 after purchasing an additional 340 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Braze by 4.6% in the 3rd quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock valued at $552,000 after purchasing an additional 524 shares during the period. 90.47% of the stock is currently owned by institutional investors.

Braze Trading Down 0.8 %

Shares of Braze stock opened at $38.94 on Monday. The company has a fifty day simple moving average of $50.39 and a 200-day simple moving average of $50.70. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of -29.28 and a beta of 1.13. Braze has a 12-month low of $25.76 and a 12-month high of $61.53.

Braze (NASDAQ:BRZE) last announced its earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. The firm had revenue of $130.96 million during the quarter, compared to analysts’ expectations of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. On average, analysts forecast that Braze will post -1.18 earnings per share for the current fiscal year.

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.