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

Braze, Inc. (NASDAQ:BRZE) has been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $64.12.

BRZE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, March 28th. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Raymond James dropped their target price on shares of Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. TD Cowen reduced their price target on shares of Braze from $68.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Braze in a research report on Monday, March 25th.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $41.31 on Friday. The firm’s 50 day simple moving average is $45.86 and its 200 day simple moving average is $50.24. Braze has a fifty-two week low of $28.92 and a fifty-two week high of $61.53. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -31.06 and a beta of 1.13.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. The company had revenue of $130.96 million for the quarter, compared to analysts’ expectations of $124.55 million. Equities research analysts expect that Braze will post -1.18 earnings per share for the current year.

Insider Activity at Braze

In related news, CTO Jonathan Hyman sold 1,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $42.44, for a total transaction of $42,440.00. Following the completion of the transaction, the chief technology officer now directly owns 183,258 shares of the company’s stock, valued at $7,777,469.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Braze news, CTO Jonathan Hyman sold 1,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.44, for a total transaction of $42,440.00. Following the sale, the chief technology officer now directly owns 183,258 shares of the company’s stock, valued at $7,777,469.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Magnuson sold 11,874 shares of Braze stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $57.51, for a total transaction of $682,873.74. Following the completion of the transaction, the chief executive officer now directly owns 636,514 shares of the company’s stock, valued at approximately $36,605,920.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,315 shares of company stock valued at $4,391,304. 26.48% of the stock is owned by insiders.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new stake in Braze in the 3rd quarter valued at $4,377,000. Morgan Stanley lifted its stake in shares of Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after buying an additional 899,894 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Braze during the 3rd quarter worth about $283,000. Bailard Inc. grew its stake in Braze by 409.7% in the 4th quarter. Bailard Inc. now owns 48,578 shares of the company’s stock valued at $2,581,000 after buying an additional 39,048 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Braze by 814.1% in the 4th quarter. New York State Common Retirement Fund now owns 178,514 shares of the company’s stock valued at $9,484,000 after buying an additional 158,986 shares during the last quarter. Institutional investors own 90.47% 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 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 Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.