Braze, Inc. (NASDAQ:BRZE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have been assigned an average rating of “Moderate Buy” from the twenty analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $53.95.

A number of brokerages recently commented on BRZE. DA Davidson decreased their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Stifel Nicolaus started coverage on Braze in a research note on Tuesday, October 22nd. They set a “buy” rating and a $37.00 target price on the stock. Oppenheimer reduced their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. Piper Sandler lowered their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th.

Insider Transactions at Braze

In other Braze news, CTO Jonathan Hyman sold 6,930 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the completion of the transaction, the chief technology officer now owns 163,020 shares of the company’s stock, valued at $5,616,039. This represents a 4.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Susan Wiseman sold 3,447 shares of Braze stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the sale, the general counsel now directly owns 206,930 shares in the company, valued at $9,104,920. The trade was a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,426 shares of company stock valued at $3,840,582. 24.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Braze during the 3rd quarter worth approximately $253,000. Geode Capital Management LLC grew its stake in shares of Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after purchasing an additional 229,660 shares during the last quarter. Vestcor Inc acquired a new stake in Braze in the third quarter valued at $1,617,000. Bullseye Asset Management LLC raised its position in Braze by 14.3% during the 3rd quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after buying an additional 64,093 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Stock Down 0.9 %

NASDAQ:BRZE opened at $39.35 on Tuesday. Braze has a 12-month low of $29.18 and a 12-month high of $61.53. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -33.51 and a beta of 1.03. The stock’s 50 day moving average price is $33.34 and its two-hundred day moving average price is $37.31.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same quarter last year, the firm posted ($0.30) EPS. The company’s quarterly revenue was up 26.4% on a year-over-year basis. Equities research analysts expect that Braze will post -1.02 EPS for the current year.

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.