Braze (NASDAQ:BRZE – Get Free Report) had its price objective increased by research analysts at BTIG Research from $50.00 to $54.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 9.91% from the stock’s current price.
A number of other analysts have also commented on the stock. Loop Capital boosted their price objective on shares of Braze from $40.00 to $45.00 in a research report on Friday, June 9th. JMP Securities boosted their price objective on shares of Braze from $46.00 to $56.00 and gave the stock a “market outperform” rating in a research report on Friday. Piper Sandler boosted their price objective on shares of Braze from $40.00 to $45.00 in a research report on Friday, June 9th. Wells Fargo & Company boosted their price objective on shares of Braze from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 5th. Finally, UBS Group boosted their target price on shares of Braze from $44.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and an average target price of $53.47.
Check Out Our Latest Stock Analysis on Braze
Braze Stock Performance
Braze (NASDAQ:BRZE – Get Free Report) last announced its quarterly earnings results on Thursday, June 8th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. The firm had revenue of $101.80 million for the quarter, compared to analyst estimates of $98.77 million. Braze had a negative net margin of 33.51% and a negative return on equity of 29.78%. The business’s revenue was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.37) earnings per share. On average, sell-side analysts anticipate that Braze will post -1.53 earnings per share for the current fiscal year.
Insider Buying and Selling at Braze
In other news, CFO Isabelle Winkles sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $47.09, for a total value of $235,450.00. Following the sale, the chief financial officer now directly owns 223,542 shares in the company, valued at approximately $10,526,592.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Isabelle Winkles sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $47.09, for a total value of $235,450.00. Following the sale, the chief financial officer now directly owns 223,542 shares in the company, valued at approximately $10,526,592.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 2,466 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $40.23, for a total transaction of $99,207.18. Following the completion of the sale, the general counsel now owns 78,814 shares in the company, valued at $3,170,687.22. The disclosure for this sale can be found here. Insiders have sold a total of 518,829 shares of company stock valued at $22,267,079 in the last ninety days. 26.48% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Braze
Several hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley boosted its position in Braze by 21.4% during the 4th quarter. Morgan Stanley now owns 4,992,683 shares of the company’s stock worth $136,200,000 after buying an additional 880,451 shares during the period. Vanguard Group Inc. boosted its position in Braze by 27.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,078,339 shares of the company’s stock worth $107,219,000 after buying an additional 662,837 shares during the period. BlackRock Inc. boosted its position in Braze by 296.6% during the 2nd quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock worth $114,050,000 after buying an additional 1,947,831 shares during the period. Alliancebernstein L.P. boosted its position in Braze by 12.5% during the 2nd 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 period. Finally, Deutsche Bank AG boosted its position in Braze by 12,400.1% during the 1st quarter. Deutsche Bank AG now owns 852,010 shares of the company’s stock worth $29,454,000 after buying an additional 845,194 shares during the period. 49.47% of the stock is currently owned by institutional investors and hedge funds.
About Braze
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.
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