Braze (NASDAQ:BRZE) Shares Gap Up to $37.92

Braze, Inc. (NASDAQ:BRZEGet Free Report)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $37.92, but opened at $39.33. Braze shares last traded at $39.01, with a volume of 52,774 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. JMP Securities restated a “market outperform” rating and set a $68.00 price target on shares of Braze in a research report on Friday, June 7th. Canaccord Genuity Group boosted their price target on Braze from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 7th. BTIG Research dropped their price objective on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Braze in a research note on Monday, June 17th. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze has an average rating of “Buy” and a consensus price target of $61.38.

Read Our Latest Research Report on BRZE

Braze Trading Up 1.9 %

The firm has a 50 day moving average of $38.98 and a two-hundred day moving average of $46.75. The company has a market cap of $3.93 billion, a PE ratio of -29.63 and a beta of 1.06.

Braze (NASDAQ:BRZEGet Free Report) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.01. The company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. On average, research analysts forecast that Braze, Inc. will post -1.21 EPS for the current year.

Insider Buying and Selling at Braze

In related news, CFO Isabelle Winkles sold 8,383 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $42.80, for a total transaction of $358,792.40. Following the sale, the chief financial officer now directly owns 278,681 shares of the company’s stock, valued at $11,927,546.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Pankaj Malik sold 2,618 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $35.23, for a total transaction of $92,232.14. Following the completion of the sale, the chief accounting officer now owns 76,623 shares in the company, valued at $2,699,428.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Isabelle Winkles sold 8,383 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $42.80, for a total value of $358,792.40. Following the completion of the transaction, the chief financial officer now directly owns 278,681 shares in the company, valued at $11,927,546.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,394 shares of company stock worth $3,295,036. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors have recently made changes to their positions in the business. AGF Management Ltd. purchased a new position in shares of Braze during the 4th quarter worth $3,282,000. Morgan Stanley grew its holdings in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after purchasing an additional 899,894 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in Braze in the fourth quarter worth about $5,397,000. New York State Common Retirement Fund lifted its position in shares of Braze by 814.1% during the 4th quarter. New York State Common Retirement Fund now owns 178,514 shares of the company’s stock valued at $9,484,000 after buying an additional 158,986 shares in the last quarter. Finally, Bailard Inc. grew its stake in shares of Braze by 409.7% during the 4th quarter. Bailard Inc. now owns 48,578 shares of the company’s stock valued at $2,581,000 after acquiring an additional 39,048 shares during the period. Institutional investors own 90.47% of the company’s stock.

Braze Company Profile

(Get Free Report)

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.

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