Braze, Inc. (NASDAQ:BRZE) Given Average Recommendation of “Moderate Buy” by Analysts

Braze, Inc. (NASDAQ:BRZE) has been given a consensus recommendation of “Moderate Buy” by the twenty-one research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $45.1053.

A number of equities research analysts recently issued reports on BRZE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braze in a research report on Wednesday, October 8th. JMP Securities restated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research note on Friday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Braze in a report on Wednesday, October 22nd. Piper Sandler reiterated an “overweight” rating and set a $50.00 price target on shares of Braze in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company began coverage on shares of Braze in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $40.00 price objective on the stock.

Insiders Place Their Bets

In other news, CEO William Magnuson sold 26,698 shares of Braze stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $26.64, for a total transaction of $711,234.72. Following the completion of the sale, the chief executive officer directly owned 694,746 shares of the company’s stock, valued at approximately $18,508,033.44. The trade was a 3.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Astha Malik sold 14,322 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total transaction of $381,538.08. Following the completion of the transaction, the insider owned 219,338 shares of the company’s stock, valued at $5,843,164.32. This trade represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 68,557 shares of company stock worth $1,856,089. 18.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Braze

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company’s stock worth $29,000 after purchasing an additional 595 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Braze in the 1st quarter worth approximately $36,000. SBI Securities Co. Ltd. boosted its stake in Braze by 173.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock worth $39,000 after buying an additional 870 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after buying an additional 1,404 shares in the last quarter. Finally, Clearstead Advisors LLC grew its position in Braze by 58.2% during the third quarter. Clearstead Advisors LLC now owns 1,685 shares of the company’s stock valued at $48,000 after acquiring an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Trading Up 1.4%

Shares of NASDAQ:BRZE opened at $30.30 on Friday. The company has a 50 day moving average of $27.99 and a 200 day moving average of $28.78. The stock has a market cap of $3.37 billion, a P/E ratio of -29.13 and a beta of 1.10. Braze has a 12 month low of $23.91 and a 12 month high of $48.33.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.25). Braze had a negative return on equity of 17.97% and a negative net margin of 16.62%.The firm had revenue of $180.11 million during the quarter, compared to analysts’ expectations of $171.63 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities analysts forecast that Braze will post -0.98 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 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.