Braze, Inc. (NASDAQ:BRZE) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have received a consensus recommendation of “Buy” from the twenty-one brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $53.00.

BRZE has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on shares of Braze from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $55.00 price target (up previously from $50.00) on shares of Braze in a report on Friday. Macquarie lifted their price target on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the stock a “buy” rating in a report on Friday. Finally, Oppenheimer reiterated an “outperform” rating and set a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th.

Insider Transactions at Braze

In other news, CTO Jonathan Hyman sold 5,210 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the transaction, the chief technology officer now directly owns 157,810 shares in the company, valued at approximately $6,441,804.20. This represents a 3.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Magnuson sold 18,050 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the sale, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock worth $3,841,921 in the last 90 days. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Large investors have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in Braze in the third quarter valued at approximately $673,000. Charles Schwab Investment Management Inc. grew its stake in shares of Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after buying an additional 57,713 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Braze by 5.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 36,344 shares of the company’s stock valued at $1,175,000 after buying an additional 1,751 shares during the period. FMR LLC lifted its stake in Braze by 393.1% during the 3rd quarter. FMR LLC now owns 11,829 shares of the company’s stock worth $383,000 after acquiring an additional 9,430 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Braze by 22.7% during the 3rd quarter. MetLife Investment Management LLC now owns 37,644 shares of the company’s stock valued at $1,217,000 after acquiring an additional 6,955 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Stock Up 2.2 %

Shares of BRZE opened at $37.51 on Monday. The stock’s 50-day moving average price is $39.66 and its 200-day moving average price is $38.03. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17. Braze has a 52 week low of $29.18 and a 52 week high of $48.33.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. As a group, equities analysts anticipate that Braze will post -0.98 EPS for the current fiscal year.

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.