Braze (NASDAQ:BRZE – Get Free Report) had its price target raised by equities researchers at JPMorgan Chase & Co. from $45.00 to $52.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 5.84% from the stock’s current price.
A number of other research analysts have also issued reports on BRZE. Barclays lifted their target price on Braze from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler increased their target price on shares of Braze from $40.00 to $45.00 in a research note on Friday, June 9th. UBS Group lifted their price target on shares of Braze from $44.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price objective on Braze from $43.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 5th. Finally, Canaccord Genuity Group boosted their target price on Braze from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.47.
Get Our Latest Report on Braze
Braze Trading Up 3.1 %
Braze (NASDAQ:BRZE – Get Free Report) last issued its quarterly earnings results on Thursday, June 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. Braze had a negative return on equity of 29.78% and a negative net margin of 33.51%. The firm had revenue of $101.80 million during the quarter, compared to analyst estimates of $98.77 million. During the same period last year, the company posted ($0.37) EPS. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. Equities research analysts forecast that Braze will post -1.53 EPS for the current year.
Insider Buying and Selling at Braze
In other news, major shareholder Dharmesh Thakker sold 26,037 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $42.68, for a total transaction of $1,111,259.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Dharmesh Thakker sold 26,037 shares of Braze stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $42.68, for a total transaction of $1,111,259.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Magnuson sold 11,552 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $41.26, for a total value of $476,635.52. Following the completion of the transaction, the chief executive officer now directly owns 478,509 shares in the company, valued at $19,743,281.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 518,829 shares of company stock worth $22,267,079. 26.48% of the stock is currently owned by company insiders.
Institutional Trading of Braze
Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its holdings in shares of Braze by 85.1% during the 2nd quarter. California State Teachers Retirement System now owns 46,858 shares of the company’s stock valued at $2,052,000 after purchasing an additional 21,538 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Braze during the second quarter valued at about $6,950,000. Alliancebernstein L.P. lifted its position in shares of Braze by 12.5% in the second quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock worth $104,054,000 after buying an additional 263,250 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Braze by 2,099.4% during the 2nd quarter. Wells Fargo & Company MN now owns 17,353 shares of the company’s stock worth $760,000 after acquiring an additional 16,564 shares in the last quarter. Finally, Bullseye Asset Management LLC increased its holdings in shares of Braze by 47.4% during the 2nd quarter. Bullseye Asset Management LLC now owns 20,650 shares of the company’s stock valued at $905,000 after acquiring an additional 6,644 shares during the last quarter. 49.47% of the stock is currently owned by institutional investors and hedge funds.
Braze Company Profile
Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.
Read More
- Five stocks we like better than Braze
- What is a Bond Market Holiday? How to Invest and Trade
- MarketBeat Week in Review – 9/4 – 9/8
- The How And Why of Investing in Oil Stocks
- The Best 5 Small Cap AI Companies to Buy Now
- Stock Market Sectors: What Are They and How Many Are There?
- Miso Robotics Stock: Is an IPO Coming Soon?
Receive News & Ratings for Braze Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Braze and related companies with MarketBeat.com's FREE daily email newsletter.
