Braze’s (BRZE) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Braze (NASDAQ:BRZE) in a research note published on Friday,Benzinga reports. The brokerage currently has a $68.00 price target on the stock.

BRZE has been the topic of several other reports. UBS Group cut their price objective on shares of Braze from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday. Raymond James Financial dropped their price target on shares of Braze from $48.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, June 6th. Cantor Fitzgerald raised their price target on shares of Braze from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Friday. Loop Capital dropped their price objective on shares of Braze from $75.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, June 6th. Finally, Stephens set a $41.00 price objective on shares of Braze and gave the stock an “overweight” rating in a report on Friday, June 6th. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.85.

Braze Stock Performance

Shares of BRZE stock opened at $31.42 on Friday. Braze has a one year low of $23.91 and a one year high of $48.33. The company’s 50-day moving average is $27.32 and its 200 day moving average is $30.98. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -30.21 and a beta of 1.10.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Braze had a negative net margin of 16.62% and a negative return on equity of 19.21%. The company had revenue of $162.06 million for the quarter, compared to the consensus estimate of $158.60 million. During the same period in the prior year, the firm posted ($0.05) EPS. Braze’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, research analysts predict that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jonathan Hyman sold 8,918 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $231,332.92. Following the sale, the chief technology officer owned 205,106 shares in the company, valued at approximately $5,320,449.64. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 4,943 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $25.14, for a total transaction of $124,267.02. Following the completion of the sale, the general counsel owned 229,724 shares in the company, valued at $5,775,261.36. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,354 shares of company stock valued at $1,914,998 in the last three months. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BRZE. Tower Research Capital LLC TRC boosted its stake in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after buying an additional 405 shares during the period. GAMMA Investing LLC boosted its stake in Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after buying an additional 517 shares during the period. Quarry LP boosted its stake in shares of Braze by 296.0% during the first quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after purchasing an additional 595 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Braze during the first quarter valued at $36,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Braze by 173.3% during the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock valued at $39,000 after purchasing an additional 870 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

About Braze

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.