Braze (NASDAQ:BRZE) Now Covered by Analysts at Macquarie

Macquarie started coverage on shares of Braze (NASDAQ:BRZE) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm issued a neutral rating and a $30.00 target price on the stock.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Oppenheimer decreased their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. TD Cowen cut their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. DA Davidson decreased their price objective on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $48.00 to $56.00 in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

Braze Trading Up 0.7 %

Shares of Braze stock opened at $31.67 on Thursday. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The company has a 50-day moving average of $34.62 and a 200 day moving average of $38.02.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The firm 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 period in the previous year, the firm posted ($0.30) EPS. Equities research analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Isabelle Winkles sold 8,207 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 $339,523.59. Following the completion of the sale, the chief financial officer now owns 234,420 shares of the company’s stock, valued at $9,697,955.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,658 shares of company stock valued at $7,980,396. Insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. grew its stake in shares of Braze by 7.6% during the 3rd quarter. Assetmark Inc. now owns 27,181 shares of the company’s stock valued at $879,000 after acquiring an additional 1,923 shares during the period. SpiderRock Advisors LLC bought a new position in shares of Braze in the third quarter worth approximately $1,122,000. M&G PLC increased its stake in shares of Braze by 53.1% in the third quarter. M&G PLC now owns 262,963 shares of the company’s stock worth $8,415,000 after purchasing an additional 91,161 shares in the last quarter. Amalgamated Bank raised its position in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Braze by 9.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,482 shares of the company’s stock valued at $339,000 after buying an additional 866 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.