Citigroup Forecasts Strong Price Appreciation for Braze (NASDAQ:BRZE) Stock

Braze (NASDAQ:BRZE) had its price objective hoisted by Citigroup from $50.00 to $55.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. Macquarie increased their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Canaccord Genuity Group boosted their target price on Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Braze in a report on Friday. Finally, Oppenheimer reissued an “outperform” rating and set a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $53.00.

Braze Price Performance

BRZE opened at $37.51 on Friday. Braze has a 1 year low of $29.18 and a 1 year high of $48.33. The stock has a 50-day moving average price of $39.66 and a 200-day moving average price of $38.03. The firm has a market cap of $3.88 billion, a PE ratio of -32.90 and a beta of 1.17.

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, sell-side analysts anticipate that Braze will post -0.98 EPS for the current year.

Insider Buying and Selling at Braze

In other Braze news, General Counsel Susan Wiseman sold 14,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.52, for a total value of $637,280.00. Following the completion of the sale, the general counsel now owns 199,520 shares in the company, valued at approximately $9,082,150.40. This represents a 6.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the transaction, the chief executive officer now owns 564,766 shares in the company, valued at $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,470 shares of company stock valued at $3,841,921. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

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

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.