Braze (NASDAQ:BRZE) Given “Market Outperform” Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of Braze (NASDAQ:BRZEFree Report) in a research note issued to investors on Friday, Benzinga reports. They currently have a $68.00 price target on the stock.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company lowered their target price on Braze from $75.00 to $65.00 and set an overweight rating on the stock in a research report on Monday, April 29th. Scotiabank dropped their price objective on Braze from $58.00 to $48.00 and set a sector perform rating for the company in a research note on Monday, June 3rd. TD Cowen dropped their price objective on Braze from $65.00 to $52.00 and set a buy rating for the company in a research note on Friday, May 31st. Piper Sandler dropped their price objective on Braze from $66.00 to $55.00 and set an overweight rating for the company in a research note on Friday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $70.00 price objective on shares of Braze in a research note on Friday. One analyst has 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 $59.94.

View Our Latest Research Report on Braze

Braze Stock Performance

NASDAQ BRZE opened at $36.65 on Friday. The company has a market capitalization of $3.70 billion, a PE ratio of -27.56 and a beta of 1.06. The business’s fifty day moving average is $41.15 and its 200 day moving average is $49.55. Braze has a fifty-two week low of $33.59 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZEGet Free Report) last released its earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.01. The company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. On average, sell-side analysts forecast that Braze will post -1.18 EPS for the current year.

Insider Buying and Selling at Braze

In other Braze news, CTO Jonathan Hyman sold 1,000 shares of the company’s 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 sale, the chief technology officer now directly owns 183,258 shares in the company, valued at $7,777,469.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Isabelle Winkles sold 4,096 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $42.68, for a total value of $174,817.28. Following the sale, the chief financial officer now directly owns 242,135 shares in the company, valued at $10,334,321.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $42,440.00. Following the completion of the sale, the chief technology officer now owns 183,258 shares in the company, valued at $7,777,469.52. The disclosure for this sale can be found here. Insiders have sold a total of 79,114 shares of company stock worth $3,344,997 over the last ninety days. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fred Alger Management LLC bought a new position in Braze in the third quarter worth approximately $29,000. Neo Ivy Capital Management bought a new position in Braze in the fourth quarter worth approximately $40,000. Covestor Ltd grew its stake in Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares in the last quarter. Canton Hathaway LLC bought a new position in Braze in the fourth quarter worth approximately $42,000. Finally, Comerica Bank grew its stake in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

About Braze

(Get Free Report)

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.

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Analyst Recommendations for Braze (NASDAQ:BRZE)

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