Braze, Inc. (NASDAQ:BRZE) Given Average Rating of “Buy” by Brokerages

Braze, Inc. (NASDAQ:BRZE) has been given an average recommendation of “Buy” by the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $51.25.

BRZE has been the subject of several recent research reports. Raymond James boosted their price target on Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Piper Sandler cut their target price on Braze from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Canaccord Genuity Group upped their price objective on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Wells Fargo & Company decreased their target price on shares of Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a “buy” rating in a report on Friday, March 28th.

Insider Transactions at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total value of $61,950.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at $630,609.70. This represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William Magnuson sold 18,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the transaction, the chief executive officer now owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,937 shares of company stock worth $2,235,381. Insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after buying an additional 1,476,423 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Braze by 2.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company’s stock worth $112,798,000 after acquiring an additional 63,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Braze by 27.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock worth $96,711,000 after acquiring an additional 500,667 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Braze by 121.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock valued at $92,028,000 after purchasing an additional 1,203,149 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Braze by 107.0% during the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company’s stock valued at $82,246,000 after purchasing an additional 1,015,007 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Braze Price Performance

BRZE stock opened at $31.54 on Friday. Braze has a fifty-two week low of $27.45 and a fifty-two week high of $48.33. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -27.67 and a beta of 1.13. The business’s fifty day moving average price is $33.63 and its two-hundred day moving average price is $37.62.

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

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.