Braze (NASDAQ:BRZE) Price Target Raised to $48.00

Braze (NASDAQ:BRZE) had its price target increased by Raymond James from $45.00 to $48.00 in a report published on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the stock.

BRZE has been the topic of several other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Braze in a report on Friday. Canaccord Genuity Group increased their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Finally, Stephens started coverage on shares of Braze in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price for the company. 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.00.

Braze Trading Up 2.2 %

Shares of BRZE opened at $37.51 on Friday. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17. Braze has a 12 month low of $29.18 and a 12 month high of $48.33. The firm has a fifty day simple moving average of $39.66 and a 200 day simple moving average of $38.03.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company 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 company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. As a group, research analysts predict that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Braze

In other news, insider Myles Kleeger sold 8,365 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.12, for a total transaction of $335,603.80. Following the transaction, the insider now directly owns 168,882 shares of the company’s stock, valued at approximately $6,775,545.84. This trade represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,470 shares of company stock valued at $3,841,921. 24.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Braze by 12.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after purchasing an additional 57,713 shares during the period. Intech Investment Management LLC bought a new stake in shares of Braze during the 3rd quarter worth approximately $673,000. Proficio Capital Partners LLC acquired a new stake in shares of Braze during the 4th quarter worth approximately $498,000. Holocene Advisors LP increased its stake in Braze by 52.7% in the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after acquiring an additional 29,123 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after purchasing an additional 229,660 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Company Profile

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.