Braze (NASDAQ:BRZE) Stock Price Expected to Rise, Oppenheimer Analyst Says

Braze (NASDAQ:BRZE) had its price objective upped by equities research analysts at Oppenheimer from $30.00 to $36.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 6.39% from the company’s previous close.

BRZE has been the subject of a number of other research reports. DA Davidson reiterated a “buy” rating and issued a $33.00 price objective on shares of Braze in a report on Thursday, May 28th. BTIG Research boosted their target price on shares of Braze from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 14th. The Goldman Sachs Group set a $34.00 price target on shares of Braze and gave the company a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braze in a research note on Tuesday, July 7th. Finally, UBS Group reiterated an “outperform” rating on shares of Braze in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.41.

Braze Stock Up 9.8%

Shares of BRZE opened at $33.84 on Thursday. The stock has a market cap of $3.81 billion, a PE ratio of -30.13 and a beta of 0.83. Braze has a 12-month low of $15.26 and a 12-month high of $37.33. The business has a 50-day simple moving average of $25.28 and a two-hundred day simple moving average of $22.57.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $211.00 million for the quarter, compared to analyst estimates of $205.19 million. Braze had a negative return on equity of 17.52% and a negative net margin of 15.51%.The business’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. On average, equities research analysts expect that Braze will post -0.78 EPS for the current year.

Insider Transactions at Braze

In other Braze news, CRO Edward M. Mcdonnell sold 29,732 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.38, for a total transaction of $932,990.16. Following the completion of the sale, the executive directly owned 409,630 shares in the company, valued at approximately $12,854,189.40. This trade represents a 6.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jonathan Hyman sold 10,000 shares of Braze stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.04, for a total value of $310,400.00. Following the completion of the transaction, the chief technology officer directly owned 1,185,219 shares of the company’s stock, valued at approximately $36,789,197.76. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 161,568 shares of company stock worth $4,732,721 over the last three months. 12.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Braze

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Braze by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock worth $337,793,000 after purchasing an additional 892,635 shares in the last quarter. Battery Management CORP. lifted its stake in Braze by 70.2% in the third quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock valued at $68,967,000 after buying an additional 1,000,000 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Braze by 28.8% during the 2nd quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock worth $65,197,000 after buying an additional 518,103 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Braze by 0.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,187,275 shares of the company’s stock worth $75,002,000 after buying an additional 9,322 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its position in shares of Braze by 592.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,105,024 shares of the company’s stock worth $72,181,000 after buying an additional 1,801,019 shares during the period. 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.