Braze (NASDAQ:BRZE) Coverage Initiated by Analysts at Macquarie

Equities researchers at Macquarie assumed coverage on shares of Braze (NASDAQ:BRZE) in a report issued on Thursday, MarketBeat reports. The firm set a “neutral” rating and a $30.00 price target on the stock. Macquarie’s price target would suggest a potential downside of 6.25% from the company’s previous close.

Several other analysts have also recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. Oppenheimer decreased their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Piper Sandler decreased their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Braze in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

Braze Trading Up 0.1 %

BRZE stock opened at $32.00 on Thursday. The firm has a 50-day moving average price of $35.37 and a 200-day moving average price of $38.19. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The stock has a market capitalization of $3.29 billion, a P/E ratio of -27.12 and a beta of 1.03.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The firm had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. The company’s revenue was up 26.4% on a year-over-year basis. As a group, equities analysts predict that Braze will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Fernando Machado sold 1,377 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares of the company’s stock, valued at $273,919.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Braze news, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the sale, the director now directly owns 8,937 shares in the company, valued at $273,919.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Roger H. Lee sold 56,830 shares of the 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 transaction, the insider now owns 56,830 shares of the company’s stock, valued at $1,720,244.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,658 shares of company stock valued at $7,980,396. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Large investors have recently modified their holdings of the business. M&G Plc bought a new position in Braze in the 1st quarter worth approximately $6,724,000. Point72 Asset Management L.P. bought a new position in shares of Braze in the second quarter worth $10,166,000. Vanguard Group Inc. grew its position in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in Braze during the 1st quarter worth about $5,714,000. Finally, Mackenzie Financial Corp bought a new position in Braze in the 2nd quarter worth about $971,000. 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.