Citigroup Issues Positive Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price target boosted by equities researchers at Citigroup from $50.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 44.05% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Raymond James upped their price objective on shares of Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday. William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Piper Sandler upped their price target on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. DA Davidson reaffirmed a “buy” rating and set a $50.00 price target on shares of Braze in a report on Wednesday. Finally, Stephens began coverage on Braze in a research note on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price for the company. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $53.00.

Braze Price Performance

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

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million for the quarter, compared to analysts’ expectations of $155.72 million. During the same period in the prior year, the company earned ($0.04) EPS. The firm’s revenue was up 22.4% on a year-over-year basis. As a group, analysts predict that Braze will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Braze news, insider Myles Kleeger sold 8,365 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the transaction, the insider now directly owns 168,882 shares of the company’s stock, valued at approximately $6,775,545.84. This trade represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total value of $64,695.00. Following the completion of the sale, the director now owns 15,269 shares of the company’s stock, valued at $658,551.97. This represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,470 shares of company stock worth $3,841,921. 24.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BRZE. Tower Research Capital LLC TRC increased its holdings in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after acquiring an additional 827 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after acquiring an additional 928 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Braze in the fourth quarter valued at about $47,000. Finally, Plato Investment Management Ltd acquired a new position in Braze in the fourth quarter valued at about $115,000. 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.