Brokerages Set Braze, Inc. (NASDAQ:BRZE) Target Price at $64.29

Braze, Inc. (NASDAQ:BRZE) has been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $64.29.

BRZE has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Braze in a research note on Thursday, March 28th. William Blair reissued an “outperform” rating on shares of Braze in a report on Thursday, March 28th. Raymond James lowered their target price on shares of Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. TD Cowen cut their price target on shares of Braze from $68.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, Canaccord Genuity Group reduced their price target on shares of Braze from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th.

Insider Activity at Braze

In related news, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the transaction, the insider now directly owns 244,291 shares in the company, valued at approximately $13,914,815.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Braze news, CAO Pankaj Malik sold 2,832 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.52, for a total transaction of $162,896.64. Following the completion of the transaction, the chief accounting officer now owns 75,021 shares in the company, valued at approximately $4,315,207.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now directly owns 244,291 shares in the company, valued at $13,914,815.36. The disclosure for this sale can be found here. Insiders have sold 77,815 shares of company stock valued at $4,164,679 over the last ninety days. 26.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BRZE. Allspring Global Investments Holdings LLC lifted its stake in Braze by 0.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock valued at $13,406,000 after buying an additional 984 shares during the period. Diversified Trust Co boosted its position in shares of Braze by 28.1% during the 1st quarter. Diversified Trust Co now owns 20,728 shares of the company’s stock worth $918,000 after purchasing an additional 4,551 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Braze by 10.2% in the 1st quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock valued at $561,000 after buying an additional 1,205 shares during the period. Renaissance Capital LLC grew its stake in Braze by 5.1% in the first quarter. Renaissance Capital LLC now owns 34,885 shares of the company’s stock valued at $1,545,000 after acquiring an additional 1,696 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Braze by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Braze Stock Down 0.8 %

Shares of NASDAQ:BRZE opened at $38.94 on Monday. The company has a market cap of $3.93 billion, a PE ratio of -29.28 and a beta of 1.13. Braze has a fifty-two week low of $25.76 and a fifty-two week high of $61.53. The firm has a 50-day simple moving average of $50.39 and a 200 day simple moving average of $50.70.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. The firm had revenue of $130.96 million for the quarter, compared to analysts’ expectations of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. As a group, research analysts forecast that Braze will post -1.18 EPS for the current fiscal year.

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.