Braze (NASDAQ:BRZE) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Braze (NASDAQ:BRZE) in a report published on Friday morning,Benzinga reports. They currently have a $50.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. DA Davidson restated a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Wednesday. Canaccord Genuity Group upped their price objective on Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus set a $50.00 target price on Braze and gave the stock a “buy” rating in a research report on Friday. Piper Sandler upped their price target on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Braze currently has an average rating of “Buy” and a consensus target price of $53.00.

Braze Stock Up 2.2 %

Shares of NASDAQ BRZE opened at $37.51 on Friday. The business has a 50 day moving average price of $39.66 and a two-hundred day moving average price of $37.98. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $48.33. 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 released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. On average, analysts anticipate that Braze will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 14,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were 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 of the company’s stock, valued at $9,082,150.40. This represents a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Myles Kleeger sold 8,365 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.12, for a total transaction of $335,603.80. Following the completion of the transaction, the insider now owns 168,882 shares of the company’s stock, valued at $6,775,545.84. This represents a 4.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,470 shares of company stock worth $3,841,921. 24.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently added to or reduced their stakes in BRZE. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 1,476,423 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in 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 acquiring an additional 63,000 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Braze by 27.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock valued at $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 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 in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Braze by 107.0% in the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company’s stock worth $82,246,000 after purchasing an additional 1,015,007 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.