Braze (NASDAQ:BRZE) PT Raised to $52.00 at Oppenheimer

Braze (NASDAQ:BRZE) had its price objective lifted by equities researchers at Oppenheimer from $42.00 to $52.00 in a report released on Friday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 5.84% from the stock’s previous close.

A number of other equities analysts have also weighed in on BRZE. BTIG Research lifted their price target on shares of Braze from $43.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 31st. Loop Capital lifted their price objective on Braze from $40.00 to $45.00 in a research note on Friday, June 9th. Piper Sandler lifted their price objective on Braze from $40.00 to $45.00 in a research note on Friday, June 9th. Wells Fargo & Company lifted their price objective on Braze from $43.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Braze from $36.00 to $40.00 in a report on Friday, June 9th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.47.

Braze Trading Up 3.1 %

Shares of NASDAQ:BRZE opened at $49.13 on Friday. The stock’s 50-day moving average price is $43.31 and its two-hundred day moving average price is $36.83. Braze has a 12-month low of $22.53 and a 12-month high of $50.13. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of -34.36 and a beta of 1.04.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, June 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. The firm had revenue of $101.80 million for the quarter, compared to analyst estimates of $98.77 million. Braze had a negative return on equity of 29.78% and a negative net margin of 33.51%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period last year, the company earned ($0.37) EPS. As a group, research analysts forecast that Braze will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 2,466 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $40.23, for a total value of $99,207.18. Following the sale, the general counsel now owns 78,814 shares in the company, valued at approximately $3,170,687.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William Magnuson sold 11,552 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $41.26, for a total transaction of $476,635.52. Following the sale, the chief executive officer now directly owns 478,509 shares in the company, valued at approximately $19,743,281.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 2,466 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $40.23, for a total value of $99,207.18. Following the sale, the general counsel now owns 78,814 shares in the company, valued at $3,170,687.22. The disclosure for this sale can be found here. Insiders have sold a total of 518,829 shares of company stock valued at $22,267,079 in the last three months. Corporate insiders own 26.48% of the company’s stock.

Institutional Trading of Braze

A number of large investors have recently modified their holdings of the company. Morgan Stanley increased its holdings in shares of Braze by 21.4% in the 4th quarter. Morgan Stanley now owns 4,992,683 shares of the company’s stock worth $136,200,000 after acquiring an additional 880,451 shares during the period. Vanguard Group Inc. increased its holdings in shares of Braze by 27.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,078,339 shares of the company’s stock worth $107,219,000 after acquiring an additional 662,837 shares during the period. BlackRock Inc. increased its position in Braze by 296.6% in the 2nd quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock valued at $114,050,000 after acquiring an additional 1,947,831 shares during the period. Alliancebernstein L.P. increased its position in Braze by 12.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock valued at $104,054,000 after acquiring an additional 263,250 shares during the period. Finally, Deutsche Bank AG increased its position in Braze by 12,400.1% in the 1st quarter. Deutsche Bank AG now owns 852,010 shares of the company’s stock valued at $29,454,000 after acquiring an additional 845,194 shares during the period. Institutional investors and hedge funds own 49.47% 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 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.