Braze (NASDAQ:BRZE) Earns Buy Rating from DA Davidson

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $50.00 price objective on the stock. DA Davidson’s price objective points to a potential upside of 36.24% from the stock’s previous close.

BRZE has been the topic of a number of other research reports. Stifel Nicolaus upped their target price on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler boosted their price objective on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Raymond James reduced their target price on Braze from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, March 20th. Oppenheimer reiterated an “outperform” rating and issued a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $52.05.

Braze Stock Down 1.7 %

BRZE stock opened at $36.70 on Wednesday. The stock’s 50 day moving average is $39.80 and its two-hundred day moving average is $37.97. Braze has a 52-week low of $29.18 and a 52-week high of $48.33. The company has a market capitalization of $3.80 billion, a PE ratio of -32.19 and a beta of 1.17.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. As a group, sell-side analysts anticipate that Braze will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the transaction, the general counsel now directly owns 189,520 shares in the company, valued at approximately $8,949,134.40. The trade was a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Myles Kleeger sold 8,365 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the transaction, the insider now directly owns 168,882 shares of the company’s stock, valued at $6,775,545.84. This trade represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,470 shares of company stock worth $3,841,921. 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 modified their holdings of the stock. Wellington Management Group LLP bought a new position in Braze in the 4th quarter valued at about $50,000,000. California State Teachers Retirement System grew its holdings in Braze by 4.7% during the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock worth $2,434,000 after acquiring an additional 2,605 shares during the period. Jefferies Financial Group Inc. bought a new stake in Braze in the fourth quarter worth about $1,868,000. State of Wyoming acquired a new stake in Braze in the 4th quarter valued at about $197,000. Finally, ProShare Advisors LLC boosted its position in shares of Braze by 33.8% during the 4th quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock valued at $1,028,000 after purchasing an additional 6,200 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

About Braze

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.