DA Davidson Reiterates Buy Rating for Braze (NASDAQ:BRZE)

DA Davidson restated their buy rating on shares of Braze (NASDAQ:BRZE) in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a $50.00 target price on the stock.

BRZE has been the topic of a number of other reports. Stifel Nicolaus raised their price target on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler boosted their price target on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a research note on Monday, February 3rd. Raymond James cut their target price on shares of Braze from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, March 20th. Finally, Macquarie increased their price target on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Braze presently has a consensus rating of “Buy” and a consensus price target of $53.00.

Braze Stock Up 2.2 %

Shares of BRZE opened at $37.51 on Wednesday. The company has a market capitalization of $3.88 billion, a P/E ratio of -32.90 and a beta of 1.17. The firm has a 50 day moving average of $39.66 and a 200 day moving average of $37.98. Braze has a twelve month low of $29.18 and a twelve month high of $48.33.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same quarter last year, the firm posted ($0.04) EPS. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts expect that Braze will post -0.98 EPS for the current year.

Insider Activity

In other news, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the sale, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jonathan Hyman sold 5,210 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the completion of the transaction, the chief technology officer now directly owns 157,810 shares in the company, valued at approximately $6,441,804.20. This trade represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock valued at $3,841,921 in the last ninety days. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in shares of Braze in the 4th quarter worth approximately $50,000,000. California State Teachers Retirement System grew its holdings in Braze by 4.7% in the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock worth $2,434,000 after purchasing an additional 2,605 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in Braze in the fourth quarter worth $1,868,000. State of Wyoming acquired a new position in shares of Braze during the fourth quarter worth $197,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Braze by 33.8% during the 4th quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock valued at $1,028,000 after purchasing an additional 6,200 shares during the last quarter. 90.47% of the stock is owned by institutional investors.

Braze Company Profile

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.