Braze, Inc. (NASDAQ:BRZE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $53.74.

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Braze from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Citigroup initiated coverage on Braze in a report on Tuesday, September 5th. They set a “buy” rating and a $60.00 price objective on the stock. JMP Securities upped their price objective on Braze from $46.00 to $56.00 and gave the company a “market outperform” rating in a research note on Friday, September 8th. Raymond James raised their target price on Braze from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, September 8th. Finally, Scotiabank upped their price target on Braze from $46.00 to $55.00 and gave the company a “sector perform” rating in a research report on Friday, September 8th.

Insider Buying and Selling

In other Braze news, CFO Isabelle Winkles sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $42.29, for a total value of $211,450.00. Following the completion of the sale, the chief financial officer now directly owns 213,542 shares in the company, valued at $9,030,691.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Isabelle Winkles sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $42.29, for a total value of $211,450.00. Following the transaction, the chief financial officer now directly owns 213,542 shares in the company, valued at approximately $9,030,691.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 2,466 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $40.23, for a total transaction of $99,207.18. Following the completion of the transaction, the general counsel now directly owns 78,814 shares in the company, valued at $3,170,687.22. The disclosure for this sale can be found here. Insiders sold 205,437 shares of company stock valued at $9,341,796 over the last 90 days. Company insiders own 26.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BRZE. Bank of New York Mellon Corp purchased a new stake in Braze during the first quarter valued at about $370,000. Bank of Montreal Can boosted its holdings in Braze by 81.7% in the 1st quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock worth $4,645,000 after buying an additional 46,591 shares during the period. BlackRock Inc. grew its stake in Braze by 2,301.3% in the 1st quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock valued at $5,111,000 after buying an additional 118,101 shares in the last quarter. Blair William & Co. IL raised its holdings in Braze by 8.7% during the 1st quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock valued at $424,000 after acquiring an additional 820 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Braze by 21.8% during the first quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock worth $28,860,000 after acquiring an additional 124,741 shares in the last quarter. Institutional investors own 49.47% of the company’s stock.

Braze Stock Up 2.0 %

Braze stock opened at $46.30 on Monday. Braze has a 12 month low of $23.10 and a 12 month high of $50.13. The company’s fifty day simple moving average is $45.79 and its 200-day simple moving average is $41.07. The stock has a market cap of $4.58 billion, a P/E ratio of -32.38 and a beta of 1.01.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 7th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.09. The firm had revenue of $115.11 million for the quarter, compared to the consensus estimate of $108.47 million. Braze had a negative return on equity of 29.85% and a negative net margin of 33.51%. On average, equities research analysts expect that Braze will post -1.39 earnings per share for the current fiscal year.

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.