Braze, Inc. (NASDAQ:BRZE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have been given an average rating of “Moderate Buy” by the twenty brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $53.95.

BRZE has been the topic of a number of recent research reports. DA Davidson dropped their price objective on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. UBS Group reduced their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Wells Fargo & Company cut their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Oppenheimer lowered their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. Finally, Macquarie started coverage on Braze in a research note on Thursday, October 31st. They issued a “neutral” rating and a $30.00 target price on the stock.

Insider Buying and Selling at Braze

In other news, CEO William Magnuson sold 17,933 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $617,791.85. Following the completion of the sale, the chief executive officer now owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. This represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $43.41, for a total transaction of $195,345.00. Following the completion of the transaction, the chief financial officer now directly owns 216,208 shares in the company, valued at approximately $9,385,589.28. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,479 shares of company stock worth $4,414,911 over the last three months. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Large investors have recently modified their holdings of the business. Stephens Investment Management Group LLC purchased a new stake in Braze in the 3rd quarter worth approximately $20,794,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Braze by 69.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock valued at $48,319,000 after acquiring an additional 612,400 shares in the last quarter. Granite Investment Partners LLC purchased a new stake in Braze in the second quarter worth $12,925,000. State Street Corp boosted its holdings in Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after acquiring an additional 279,050 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Braze during the 2nd quarter valued at $10,166,000. 90.47% of the stock is owned by institutional investors.

Braze Stock Performance

Shares of Braze stock opened at $39.72 on Tuesday. The stock has a market capitalization of $4.08 billion, a P/E ratio of -33.66 and a beta of 1.03. Braze has a 52-week low of $29.18 and a 52-week high of $61.53. The stock’s 50-day simple moving average is $33.34 and its 200 day simple moving average is $37.38.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $141.32 million. During the same period last year, the firm earned ($0.30) EPS. Braze’s revenue for the quarter was up 26.4% on a year-over-year basis. Equities research analysts forecast that Braze will post -1.02 EPS 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.