BTIG Research Reiterates “Buy” Rating for Braze (NASDAQ:BRZE)

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reaffirmed by research analysts at BTIG Research in a report issued on Friday,Benzinga reports. They currently have a $30.00 price objective on the stock. BTIG Research’s target price indicates a potential upside of 32.39% from the company’s current price.

Other analysts have also issued research reports about the stock. Piper Sandler decreased their target price on shares of Braze from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Braze in a research report on Wednesday, March 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Braze in a research report on Monday, December 29th. Stifel Nicolaus decreased their target price on shares of Braze from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Mizuho decreased their target price on shares of Braze from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Twenty-two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.90.

Braze Price Performance

BRZE stock opened at $22.66 on Friday. The company’s 50 day simple moving average is $19.82 and its 200-day simple moving average is $25.46. The firm has a market capitalization of $2.57 billion, a PE ratio of -18.57 and a beta of 0.89. Braze has a 12 month low of $15.26 and a 12 month high of $37.67.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Tuesday, March 24th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Braze had a negative net margin of 17.78% and a negative return on equity of 18.75%. The business had revenue of $205.17 million during the quarter, compared to analyst estimates of $198.23 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Braze will post -0.98 earnings per share for the current year.

Insider Activity at Braze

In other Braze news, CEO William Magnuson sold 26,413 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $447,172.09. Following the transaction, the chief executive officer owned 4,491,098 shares of the company’s stock, valued at $76,034,289.14. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 2,893 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $48,978.49. Following the transaction, the chief accounting officer directly owned 50,679 shares in the company, valued at approximately $857,995.47. This represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 95,676 shares of company stock valued at $1,737,811 over the last 90 days. 18.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

A number of large investors have recently bought and sold shares of BRZE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Braze by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock worth $1,415,000 after purchasing an additional 1,700 shares during the period. Intech Investment Management LLC raised its stake in Braze by 18.8% during the first quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock worth $1,453,000 after purchasing an additional 6,379 shares during the period. Prudential Financial Inc. purchased a new position in Braze during the second quarter worth approximately $272,000. Russell Investments Group Ltd. raised its stake in Braze by 1,353.0% during the second quarter. Russell Investments Group Ltd. now owns 9,619 shares of the company’s stock worth $270,000 after purchasing an additional 8,957 shares during the period. Finally, Amundi raised its stake in Braze by 8.9% during the second quarter. Amundi now owns 32,581 shares of the company’s stock worth $918,000 after purchasing an additional 2,657 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

About Braze

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.