Braze (NASDAQ:BRZE) Stock Price Up 1.8%

Braze, Inc. (NASDAQ:BRZEGet Rating) rose 1.8% during mid-day trading on Friday . The company traded as high as $34.83 and last traded at $34.40. Approximately 4,257 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 685,653 shares. The stock had previously closed at $33.79.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BRZE. Raymond James raised their price objective on shares of Braze from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, September 13th. JPMorgan Chase & Co. cut their price objective on shares of Braze from $65.00 to $42.00 in a research report on Tuesday, June 14th. Cowen cut their price objective on shares of Braze from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 13th. UBS Group began coverage on shares of Braze in a research report on Tuesday, July 12th. They issued a “buy” rating and a $53.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Braze from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, September 13th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $54.00.

Braze Stock Performance

The company has a market capitalization of $3.22 billion and a price-to-earnings ratio of -19.80. The company has a 50-day moving average price of $42.96 and a 200-day moving average price of $39.58.

Braze (NASDAQ:BRZEGet Rating) last issued its quarterly earnings data on Monday, September 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.04. Braze had a negative return on equity of 35.25% and a negative net margin of 41.54%. The business had revenue of $86.13 million during the quarter, compared to analyst estimates of $81.16 million. Braze’s quarterly revenue was up 54.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Braze, Inc. will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Iconiq Strategic Partners Vi, acquired 15,053 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were bought at an average price of $35.12 per share, for a total transaction of $528,661.36. Following the purchase, the insider now directly owns 489,817 shares in the company, valued at approximately $17,202,373.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Iconiq Strategic Partners Vi, acquired 15,053 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were bought at an average price of $35.12 per share, for a total transaction of $528,661.36. Following the purchase, the insider now directly owns 489,817 shares in the company, valued at approximately $17,202,373.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $42.12, for a total value of $631,800.00. The disclosure for this sale can be found here. In the last quarter, insiders bought 581,564 shares of company stock valued at $20,361,014 and sold 155,848 shares valued at $6,771,451. Insiders own 32.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. ICONIQ Capital LLC grew its holdings in Braze by 134.2% in the 1st quarter. ICONIQ Capital LLC now owns 7,206,133 shares of the company’s stock valued at $298,839,000 after buying an additional 4,128,680 shares in the last quarter. Interwest Venture Management Co. acquired a new position in Braze in the 1st quarter valued at $140,758,000. Sapphire Ventures L.L.C. acquired a new stake in shares of Braze during the 2nd quarter worth $63,235,000. Spark Growth Management Partners II LLC acquired a new stake in shares of Braze during the 1st quarter worth $55,888,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Braze during the 4th quarter worth $68,082,000. 39.38% of the stock is owned by institutional investors and hedge funds.

About Braze

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Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.

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