Braze, Inc. (NASDAQ:BRZE) Receives Average Recommendation of “Moderate Buy” from Brokerages
Braze, Inc. (NASDAQ:BRZE – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seventeen analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $61.58.
Several analysts have issued reports on the company. JMP Securities boosted their price target on Braze from $56.00 to $68.00 and gave the company a “market outperform” rating in a report on Thursday. BTIG Research boosted their target price on Braze from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on Braze from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 5th. Oppenheimer raised their price objective on Braze from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, September 8th. Finally, DA Davidson raised their price objective on shares of Braze from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday.
Read Our Latest Stock Report on Braze
Insider Transactions at Braze
In other news, CFO Isabelle Winkles sold 4,573 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $56.21, for a total transaction of $257,048.33. Following the completion of the transaction, the chief financial officer now directly owns 203,677 shares in the company, valued at $11,448,684.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Scott R. Tobin sold 15,522 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $47.66, for a total value of $739,778.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Isabelle Winkles sold 4,573 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $56.21, for a total value of $257,048.33. Following the sale, the chief financial officer now directly owns 203,677 shares of the company’s stock, valued at $11,448,684.17. The disclosure for this sale can be found here. Insiders sold a total of 202,637 shares of company stock worth $9,767,031 over the last ninety days. Company insiders own 26.48% of the company’s stock.
Hedge Funds Weigh In On Braze
A number of large investors have recently modified their holdings of the business. Fred Alger Management LLC purchased a new position in Braze during the third quarter worth $29,000. BluePath Capital Management LLC acquired a new position in Braze in the third quarter valued at $31,000. Canton Hathaway LLC acquired a new position in Braze in the second quarter valued at $35,000. Royal Bank of Canada boosted its holdings in Braze by 189.3% in the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock valued at $40,000 after acquiring an additional 759 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Braze in the third quarter valued at $61,000. 49.47% of the stock is owned by hedge funds and other institutional investors.
Braze Price Performance
BRZE opened at $54.19 on Friday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of -37.90 and a beta of 1.25. Braze has a 1 year low of $23.67 and a 1 year high of $58.67. The stock’s 50 day simple moving average is $48.07 and its 200 day simple moving average is $43.98.
Braze (NASDAQ:BRZE – Get Free Report) last posted its quarterly earnings results on Wednesday, December 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.08. Braze had a negative return on equity of 29.85% and a negative net margin of 33.51%. The firm had revenue of $124.00 million during the quarter, compared to analysts’ expectations of $117.30 million. During the same quarter in the previous year, the business earned ($0.35) earnings per share. The company’s revenue was up 33.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Braze will post -1.39 EPS for the current year.
About Braze (Get Free Report
Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.
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