Braze (NASDAQ:BRZE) Now Covered by Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Braze (NASDAQ:BRZE) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $45.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 23.22% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Raymond James lifted their price objective on Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Friday, March 28th. Canaccord Genuity Group boosted their target price on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Piper Sandler cut their price objective on Braze from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, DA Davidson cut their price target on Braze from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $49.25.

Braze Trading Down 0.8%

NASDAQ BRZE opened at $36.52 on Tuesday. The stock’s fifty day moving average price is $32.94 and its 200-day moving average price is $38.02. The stock has a market cap of $3.82 billion, a P/E ratio of -32.04 and a beta of 1.15. Braze has a 12 month low of $27.45 and a 12 month high of $48.33.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, analysts forecast that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Astha Malik sold 13,460 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $482,944.80. Following the transaction, the insider now directly owns 258,395 shares in the company, valued at approximately $9,271,212.60. This represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $122,171.40. Following the transaction, the chief accounting officer now directly owns 69,274 shares in the company, valued at approximately $2,485,551.12. This represents a 4.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,150 shares of company stock worth $2,540,814 over the last three months. 18.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after buying an additional 517 shares during the period. Quarry LP raised its holdings in shares of Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after acquiring an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its stake in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after acquiring an additional 827 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after acquiring an additional 928 shares in the last quarter. 90.47% of the stock is currently owned by 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.