Braze (NASDAQ:BRZE – Free Report) had its target price upped by UBS Group from $38.00 to $44.00 in a research report report published on Tuesday morning, Marketbeat reports. The firm currently has a neutral rating on the stock.
Other equities research analysts have also issued research reports about the stock. Loop Capital increased their price objective on shares of Braze from $40.00 to $45.00 in a research note on Friday, June 9th. Canaccord Genuity Group raised their target price on Braze from $42.00 to $48.00 and gave the company a buy rating in a research note on Thursday, July 13th. BTIG Research increased their price objective on shares of Braze from $40.00 to $43.00 in a report on Friday, June 9th. Oppenheimer lifted their price target on Braze from $38.00 to $42.00 in a report on Friday, June 9th. Finally, Barclays raised their target price on Braze from $45.00 to $50.00 in a research report on Monday, June 12th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $43.47.
Braze Stock Performance
Braze (NASDAQ:BRZE – Get Free Report) last posted its quarterly earnings data on Thursday, June 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.05. Braze had a negative return on equity of 30.00% and a negative net margin of 36.38%. The company had revenue of $101.80 million for the quarter, compared to the consensus estimate of $98.77 million. During the same period in the previous year, the business earned ($0.37) EPS. Braze’s revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, sell-side analysts expect that Braze will post -1.53 earnings per share for the current fiscal year.
Insider Buying and Selling at Braze
In related news, CTO Jonathan Hyman sold 20,000 shares of Braze stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $42.49, for a total value of $849,800.00. Following the transaction, the chief technology officer now directly owns 133,424 shares in the company, valued at approximately $5,669,185.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Jonathan Hyman sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $42.49, for a total value of $849,800.00. Following the completion of the sale, the chief technology officer now owns 133,424 shares in the company, valued at approximately $5,669,185.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dharmesh Thakker sold 26,037 shares of Braze stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $42.68, for a total transaction of $1,111,259.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 513,829 shares of company stock valued at $22,031,629. Corporate insiders own 26.48% of the company’s stock.
Institutional Trading of Braze
Institutional investors have recently made changes to their positions in the stock. Canton Hathaway LLC acquired a new position in Braze during the second quarter worth $35,000. Royal Bank of Canada increased its position in Braze by 189.3% during the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after buying an additional 759 shares during the last quarter. Parallel Advisors LLC acquired a new position in Braze during the fourth quarter worth $36,000. State of Wyoming acquired a new position in Braze during the second quarter worth $73,000. Finally, Metropolitan Life Insurance Co NY acquired a new position in Braze during the second quarter worth $83,000. 49.47% of the stock is currently owned by institutional investors and hedge funds.
Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.
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