Braze, Inc. (NASDAQ:BRZE) Receives $60.50 Consensus PT from Analysts

Braze, Inc. (NASDAQ:BRZE) has earned an average recommendation of “Buy” from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Seventeen research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $60.50.

A number of research analysts recently commented on BRZE shares. Raymond James lowered their price objective on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, June 7th. DA Davidson reiterated a “buy” rating and set a $65.00 price objective on shares of Braze in a research note on Friday, September 6th. TD Cowen lowered their price objective on shares of Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Canaccord Genuity Group raised their price objective on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, BTIG Research decreased their price target on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 31st.

Insiders Place Their Bets

In other news, insider Myles Kleeger sold 9,178 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $379,693.86. Following the transaction, the insider now directly owns 206,340 shares in the company, valued at approximately $8,536,285.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $38.14, for a total transaction of $86,272.68. Following the transaction, the chief accounting officer now directly owns 74,361 shares in the company, valued at approximately $2,836,128.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Myles Kleeger sold 9,178 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $379,693.86. Following the completion of the sale, the insider now owns 206,340 shares of the company’s stock, valued at $8,536,285.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,345 shares of company stock worth $8,232,925. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of large investors have recently bought and sold shares of BRZE. 1832 Asset Management L.P. boosted its holdings in Braze by 537.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after acquiring an additional 1,287,500 shares during the period. Norges Bank acquired a new stake in shares of Braze during the fourth quarter worth approximately $37,584,000. Fiera Capital Corp acquired a new stake in shares of Braze during the fourth quarter worth approximately $31,153,000. Vanguard Group Inc. increased its holdings in shares of Braze by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after buying an additional 480,179 shares in the last quarter. Finally, Granite Investment Partners LLC bought a new stake in shares of Braze during the second quarter valued at approximately $12,925,000. 90.47% of the stock is currently owned by institutional investors.

Braze Trading Up 1.7 %

BRZE opened at $35.13 on Thursday. The business’s 50 day moving average is $40.76 and its 200-day moving average is $42.14. The stock has a market cap of $3.57 billion, a PE ratio of -27.45 and a beta of 1.07. Braze has a twelve month low of $33.24 and a twelve month high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.30) earnings per share. As a group, analysts forecast that Braze will post -1.05 EPS for the current 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.