Fernando Machado Sells 2,361 Shares of Braze, Inc. (NASDAQ:BRZE) Stock

Braze, Inc. (NASDAQ:BRZE) Director Fernando Machado sold 2,361 shares of Braze stock in a transaction on Friday, April 12th. The stock was sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the sale, the director now directly owns 6,101 shares of the company’s stock, valued at approximately $259,048.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Braze Trading Down 0.8 %

NASDAQ:BRZE opened at $38.94 on Friday. The company has a market capitalization of $3.93 billion, a P/E ratio of -29.28 and a beta of 1.13. Braze, Inc. has a 12 month low of $25.76 and a 12 month high of $61.53. The business’s 50-day moving average is $50.39 and its 200 day moving average is $50.70.

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

Institutional Investors Weigh In On Braze

Hedge funds have recently made changes to their positions in the company. Fred Alger Management LLC purchased a new stake in shares of Braze in the third quarter worth about $29,000. BluePath Capital Management LLC purchased a new stake in Braze during the third quarter valued at approximately $31,000. Royal Bank of Canada raised its position in Braze by 189.3% during the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock valued at $40,000 after purchasing an additional 759 shares during the period. Neo Ivy Capital Management purchased a new stake in Braze during the fourth quarter valued at approximately $40,000. Finally, Canton Hathaway LLC purchased a new stake in Braze during the fourth quarter valued at approximately $42,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BRZE has been the subject of several research analyst reports. Scotiabank cut their price objective on Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Braze in a report on Thursday, March 28th. UBS Group raised Braze from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a report on Thursday, March 21st. Finally, Raymond James cut their price target on Braze from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.29.

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.