Braze’s (BRZE) “Market Outperform” Rating Reaffirmed at Citizens Jmp

Braze (NASDAQ:BRZE)‘s stock had its “market outperform” rating restated by equities researchers at Citizens Jmp in a research note issued on Monday, Benzinga reports. They currently have a $35.00 price target on the stock. Citizens Jmp’s price target suggests a potential upside of 22.98% from the company’s current price.

A number of other equities analysts have also recently weighed in on BRZE. DA Davidson reaffirmed a “buy” rating and set a $40.00 price objective on shares of Braze in a research report on Wednesday, September 9th. Canaccord Genuity Group increased their price objective on shares of Braze from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Braze in a research report on Wednesday, September 9th. Raymond James Financial increased their target price on shares of Braze from $27.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $30.00 target price (up from $27.00) on shares of Braze in a report on Wednesday, September 9th. Nineteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.21.

Braze Trading Up 8.0%

Shares of NASDAQ:BRZE traded up $2.12 during mid-day trading on Monday, reaching $28.46. 4,043,715 shares of the company were exchanged, compared to its average volume of 2,908,704. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -27.63 and a beta of 0.91. The firm’s 50-day simple moving average is $27.75 and its 200 day simple moving average is $24.42. Braze has a 1 year low of $15.26 and a 1 year high of $37.33.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $227.23 million during the quarter, compared to analysts’ expectations of $220.27 million. Braze had a negative net margin of 13.55% and a negative return on equity of 16.11%. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. Braze has set its FY 2027 guidance at 0.640-0.650 EPS and its Q3 2027 guidance at 0.130-0.140 EPS. Equities research analysts forecast that Braze will post -0.7 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Jonathan Hyman sold 42,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $32.47, for a total value of $1,363,740.00. Following the sale, the chief technology officer directly owned 1,143,219 shares in the company, valued at approximately $37,120,320.93. This trade represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Edward Mcdonnell sold 29,732 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $31.38, for a total transaction of $932,990.16. Following the completion of the sale, the executive owned 409,630 shares in the company, valued at $12,854,189.40. The trade was a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 203,568 shares of company stock worth $6,096,461 in the last ninety days. 12.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Braze

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kettle Hill Capital Management LLC purchased a new position in shares of Braze in the 4th quarter valued at $25,639,000. Dimensional Fund Advisors LP purchased a new position in shares of Braze in the 1st quarter valued at $14,294,000. Bank of New York Mellon Corp purchased a new position in shares of Braze in the 2nd quarter valued at $11,814,000. The Manufacturers Life Insurance Company grew its position in shares of Braze by 30.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,885,577 shares of the company’s stock valued at $44,518,000 after buying an additional 439,513 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Braze in the 2nd quarter valued at $7,847,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

About Braze

Braze, Inc is a customer engagement software company that helps businesses build and manage personalized interactions with consumers. Its cloud-based platform enables organizations to collect and analyze customer data, create audience segments, and deliver marketing messages across multiple channels.

The Braze platform supports communication through mobile and web applications, email, SMS, messaging services, and other digital channels. Its offerings include campaign orchestration, customer journey management, in-app and browser messaging, personalization, analytics, experimentation, and artificial intelligence tools designed to help companies improve customer retention and engagement.

The company was founded in 2011 as Appboy by Bill Magnuson, Mark Ghermezian, and Jon Hyman, and later adopted the Braze name.