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

Braze (NASDAQ:BRZE) had its price objective lifted by Raymond James from $44.00 to $52.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 5.84% from the company’s previous close.

A number of other equities analysts have also commented on BRZE. Loop Capital increased their price target on Braze from $40.00 to $45.00 in a research note on Friday, June 9th. Wells Fargo & Company raised 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. DA Davidson raised their price objective on Braze from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday. The Goldman Sachs Group raised their price objective on Braze from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. Finally, UBS Group raised their price objective on Braze from $44.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Braze presently has an average rating of “Moderate Buy” and a consensus price target of $53.47.

Braze Trading Up 3.1 %

NASDAQ:BRZE opened at $49.13 on Friday. Braze has a 12-month low of $22.53 and a 12-month high of $50.13. The stock has a 50-day moving average price of $43.31 and a 200 day moving average price of $36.83. The stock has a market capitalization of $4.79 billion, a P/E ratio of -34.36 and a beta of 1.04.

Braze (NASDAQ:BRZE) last released its earnings results 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 29.78% and a negative net margin of 33.51%. The firm had revenue of $101.80 million during the quarter, compared to analysts’ expectations of $98.77 million. During the same quarter last year, the business posted ($0.37) earnings per share. The firm’s revenue was up 31.4% on a year-over-year basis. On average, research analysts predict that Braze will post -1.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $43.19, for a total value of $64,785.00. Following the transaction, the director now directly owns 11,056 shares in the company, valued at approximately $477,508.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $43.19, for a total transaction of $64,785.00. Following the transaction, the director now directly owns 11,056 shares in the company, valued at approximately $477,508.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William Magnuson sold 11,552 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $41.26, for a total value of $476,635.52. Following the transaction, the chief executive officer now owns 478,509 shares in the company, valued at $19,743,281.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 518,829 shares of company stock worth $22,267,079. 26.48% of the stock is currently owned by company insiders.

Institutional Trading of Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in Braze during the 2nd quarter worth about $35,000. Royal Bank of Canada lifted its holdings in shares of Braze by 189.3% in the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock valued at $40,000 after buying an additional 759 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Braze by 19.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,575 shares of the company’s stock valued at $69,000 after buying an additional 260 shares during the period. State of Wyoming acquired a new position in shares of Braze in the 2nd quarter valued at about $73,000. Finally, Metropolitan Life Insurance Co NY acquired a new position in shares of Braze in the 2nd quarter valued at about $83,000. Institutional investors and hedge funds own 49.47% of the company’s stock.

About Braze

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.