Braze’s (BRZE) “Outperform” Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Braze (NASDAQ:BRZE) in a research note published on Wednesday, Benzinga reports. Oppenheimer currently has a $60.00 price target on the stock.

BRZE has been the subject of a number of other research reports. TD Cowen lowered their price objective on Braze from $65.00 to $52.00 and set a buy rating for the company in a research note on Friday, May 31st. DA Davidson reissued a buy rating and set a $65.00 price target on shares of Braze in a research report on Monday, March 25th. Piper Sandler cut their price target on shares of Braze from $66.00 to $55.00 and set an overweight rating on the stock in a report on Friday, June 7th. Raymond James decreased their price objective on shares of Braze from $65.00 to $55.00 and set an outperform rating for the company in a report on Friday, June 7th. Finally, Wells Fargo & Company dropped their target price on shares of Braze from $75.00 to $65.00 and set an overweight rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $60.88.

Braze Trading Up 3.7 %

Shares of BRZE stock opened at $37.56 on Wednesday. The firm has a fifty day simple moving average of $40.73 and a 200-day simple moving average of $49.19. The company has a market capitalization of $3.79 billion, a PE ratio of -30.25 and a beta of 1.06. Braze has a twelve month low of $35.47 and a twelve month high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01. The company had revenue of $135.46 million during the quarter, compared to analysts’ expectations of $131.56 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. Equities research analysts predict that Braze will post -1.18 EPS for the current year.

Insider Transactions at Braze

In related news, Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $42.46, for a total transaction of $100,248.06. Following the completion of the transaction, the director now directly owns 6,101 shares in the company, valued at approximately $259,048.46. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Braze news, Director Fernando Machado sold 2,361 shares of the firm’s 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 sale, the director now directly owns 6,101 shares in the company, valued at $259,048.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Magnuson sold 17,839 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the transaction, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,114 shares of company stock worth $3,344,997. 24.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Braze

Several large investors have recently made changes to their positions in the company. AGF Management Ltd. bought a new position in Braze in the 4th quarter worth approximately $3,282,000. Morgan Stanley boosted its position in Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after acquiring an additional 899,894 shares during the period. Seven Eight Capital LP bought a new position in shares of Braze in the third quarter worth $283,000. Bailard Inc. increased its holdings in shares of Braze by 409.7% during the fourth quarter. Bailard Inc. now owns 48,578 shares of the company’s stock valued at $2,581,000 after purchasing an additional 39,048 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Braze by 814.1% during the fourth quarter. New York State Common Retirement Fund now owns 178,514 shares of the company’s stock valued at $9,484,000 after purchasing an additional 158,986 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.