Braze, Inc. (NASDAQ:BRZE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Braze, Inc. (NASDAQ:BRZE) have been assigned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.60.

Several research analysts recently weighed in on BRZE shares. Loop Capital dropped their price objective on shares of Braze from $75.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, June 6th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Friday, June 6th. Stifel Nicolaus set a $50.00 target price on Braze and gave the company a “buy” rating in a research note on Friday, March 28th. JPMorgan Chase & Co. lowered their target price on Braze from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, June 6th. Finally, Piper Sandler lowered their target price on Braze from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd.

Braze Trading Down 3.7%

NASDAQ:BRZE opened at $25.84 on Friday. Braze has a 1 year low of $25.22 and a 1 year high of $48.33. The firm has a 50 day moving average of $32.04 and a 200-day moving average of $37.21. The stock has a market capitalization of $2.73 billion, a P/E ratio of -25.58 and a beta of 1.22.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Braze had a negative net margin of 16.76% and a negative return on equity of 18.89%. The company had revenue of $162.06 million during the quarter, compared to analysts’ expectations of $158.60 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Braze’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, analysts forecast that Braze will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Braze news, CTO Jonathan Hyman sold 9,197 shares of Braze stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $329,988.36. Following the transaction, the chief technology officer now directly owns 214,024 shares in the company, valued at approximately $7,679,181.12. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $41.46, for a total value of $62,190.00. Following the transaction, the director now owns 15,269 shares in the company, valued at approximately $633,052.74. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,150 shares of company stock valued at $2,540,814 over the last three months. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings 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 acquiring an additional 405 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after purchasing an additional 517 shares in the last quarter. Quarry LP lifted 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 purchasing an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after purchasing an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Braze in the first quarter valued at about $36,000. 90.47% of the stock is currently owned by institutional investors.

Braze Company Profile

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.