Braze’s (BRZE) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Braze (NASDAQ:BRZE) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $50.00 price objective on the stock.

BRZE has been the topic of several other reports. Piper Sandler boosted their target price on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Raymond James decreased their price objective on Braze from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, March 20th. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. Wells Fargo & Company restated an “overweight” rating and set a $55.00 price target (up from $50.00) on shares of Braze in a report on Friday. Finally, Stephens initiated coverage on shares of Braze in a research report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $53.00.

Braze Stock Up 2.2 %

NASDAQ:BRZE opened at $37.51 on Friday. The stock has a fifty day simple moving average of $39.66 and a 200 day simple moving average of $38.03. The firm 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 1-year low of $29.18 and a 1-year high of $48.33.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts predict that Braze will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the completion of the sale, the general counsel now owns 182,109 shares in the company, valued at approximately $7,288,002.18. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 8,365 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were 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 owns 168,882 shares of the company’s stock, valued at $6,775,545.84. The trade was a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,470 shares of company stock valued at $3,841,921. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BRZE. Mercer Global Advisors Inc. ADV grew its holdings in shares of Braze by 2.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock worth $559,000 after purchasing an additional 316 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Braze by 3.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock worth $453,000 after buying an additional 346 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after acquiring an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after acquiring an additional 827 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Braze by 39.7% in the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after acquiring an additional 832 shares in the last quarter. 90.47% of the stock is 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.