Analysts Set Braze, Inc. (NASDAQ:BRZE) PT at $55.32

by · The Cerbat Gem

Braze, Inc. (NASDAQ:BRZE – Get Free Report) has received an average recommendation of “Moderate Buy” from the twenty analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $55.32.

Several brokerages have commented on BRZE. TD Cowen dropped their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. Macquarie began coverage on shares of Braze in a research note on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th.

Read Our Latest Analysis on Braze

Insider Buying and Selling

In related news, CEO William Magnuson sold 17,840 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $738,040.80. Following the completion of the transaction, the chief executive officer now owns 600,749 shares of the company’s stock, valued at approximately $24,852,986.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO William Magnuson sold 17,840 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $738,040.80. Following the completion of the transaction, the chief executive officer now owns 600,749 shares of the company’s stock, valued at approximately $24,852,986.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,658 shares of company stock worth $7,980,396. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after buying an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Braze by 6.6% in the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after buying an additional 128,645 shares in the last quarter. Fiera Capital Corp lifted its position in Braze by 1.0% in the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after buying an additional 7,570 shares in the last quarter. Stephens Investment Management Group LLC purchased a new stake in Braze in the 3rd quarter worth approximately $20,794,000. Finally, Bank of New York Mellon Corp lifted its position in Braze by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock worth $18,554,000 after buying an additional 73,764 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Up 3.5 %

BRZE opened at $35.02 on Friday. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -29.68 and a beta of 1.03. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The company’s 50-day moving average price is $33.66 and its 200 day moving average price is $37.86.

Braze (NASDAQ:BRZE – Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the business earned ($0.30) earnings per share. Braze’s revenue was up 26.4% compared to the same quarter last year. Research analysts anticipate that Braze will post -1.02 earnings per share 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 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.

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