Braze’s (BRZE) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Braze (NASDAQ:BRZE) in a report released on Friday morning, Benzinga reports. Piper Sandler currently has a $51.00 price objective on the stock.

A number of other analysts have also recently weighed in on the stock. Barclays reduced their price objective on shares of Braze from $80.00 to $70.00 and set an overweight rating for the company in a research report on Monday, August 26th. Canaccord Genuity Group boosted their price target on shares of Braze from $50.00 to $53.00 and gave the company a buy rating in a research report on Friday, June 7th. Oppenheimer reaffirmed an outperform rating and set a $60.00 price objective on shares of Braze in a report on Wednesday, June 12th. Scotiabank raised Braze from a sector perform rating to a sector outperform rating and boosted their target price for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Finally, Needham & Company LLC reissued a buy rating and issued a $70.00 target price on shares of Braze in a research report on Friday. Seventeen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze presently has a consensus rating of Buy and a consensus price target of $60.50.

Braze Trading Up 2.0 %

Shares of BRZE stock opened at $36.28 on Friday. The company has a market cap of $3.69 billion, a P/E ratio of -28.34 and a beta of 1.07. The firm has a fifty day moving average price of $41.14 and a 200 day moving average price of $42.68. Braze has a 12 month low of $33.93 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 26.10% and a negative net margin of 22.01%. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the prior year, the firm posted ($0.30) EPS. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities analysts forecast that Braze will post -1.21 EPS for the current year.

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 2,262 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $38.14, for a total value of $86,272.68. Following the completion of the sale, the chief accounting officer now owns 74,361 shares in the company, valued at approximately $2,836,128.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Braze news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the sale, the chief financial officer now owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the transaction, the chief accounting officer now owns 74,361 shares in the company, valued at approximately $2,836,128.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,345 shares of company stock valued at $8,232,925. 24.03% of the stock is owned by company insiders.

Institutional Trading of Braze

Institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new position in Braze in the fourth quarter worth $40,000. Covestor Ltd increased its holdings in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares in the last quarter. Quarry LP acquired a new stake in shares of Braze in the second quarter valued at about $50,000. Comerica Bank boosted its holdings in Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares in the last quarter. Finally, Canton Hathaway LLC grew its position in Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after buying an additional 1,187 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.