Macquarie Begins Coverage on Braze (NASDAQ:BRZE)

Macquarie initiated coverage on shares of Braze (NASDAQ:BRZE) in a report published on Thursday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $30.00 price objective on the stock.

A number of other research analysts also recently weighed in on BRZE. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. Piper Sandler reduced their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research report on Tuesday, September 24th. Barclays dropped their price target on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

Braze Stock Up 0.7 %

Shares of NASDAQ:BRZE opened at $31.67 on Thursday. The business’s 50 day moving average is $34.62 and its 200 day moving average is $38.02. Braze has a 12-month low of $29.18 and a 12-month high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. Analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insider Transactions at Braze

In related news, CFO Isabelle Winkles sold 8,207 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $339,523.59. Following the completion of the transaction, the chief financial officer now directly owns 234,420 shares in the company, valued at approximately $9,697,955.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Isabelle Winkles sold 8,207 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $339,523.59. Following the transaction, the chief financial officer now directly owns 234,420 shares in the company, valued at approximately $9,697,955.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,658 shares of company stock valued at $7,980,396 in the last quarter. Insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several institutional investors have recently added to or reduced their stakes in BRZE. Covestor Ltd lifted its stake in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after acquiring an additional 738 shares during the last quarter. Quarry LP purchased a new stake in shares of Braze during the second quarter valued at approximately $50,000. Comerica Bank grew its holdings in shares of 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 during the last quarter. Amalgamated Bank increased its stake in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after buying an additional 358 shares during the period. Finally, Canton Hathaway LLC raised its holdings in Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after buying an additional 1,187 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.