Braze, Inc. (NASDAQ:BRZE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $45.50.

Several equities research analysts recently commented on the company. Cantor Fitzgerald initiated coverage on Braze in a research report on Tuesday, June 3rd. They set an “overweight” rating and a $45.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research report on Friday, June 6th. Barclays dropped their target price on Braze from $70.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. UBS Group dropped their target price on Braze from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, June 6th. Finally, Macquarie dropped their target price on Braze from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th.

Insider Activity at Braze

In related news, insider Myles Kleeger sold 9,189 shares of Braze stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $329,701.32. Following the sale, the insider owned 159,693 shares of the company’s stock, valued at approximately $5,729,784.84. This trade represents a 5.44% decrease in their position. 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 9,197 shares of Braze stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $329,988.36. Following the sale, the chief technology officer directly owned 214,024 shares in the company, valued at $7,679,181.12. This trade represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,270 shares of company stock worth $2,749,255 in the last three months. Corporate insiders own 18.20% of the company’s stock.

Institutional Trading of Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA increased its stake in Braze by 27.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company’s stock worth $374,000 after acquiring an additional 1,938 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Braze in the 4th quarter worth approximately $5,160,000. Wellington Management Group LLP bought a new stake in Braze in the 4th quarter worth approximately $50,000,000. Geode Capital Management LLC increased its stake in Braze by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,535,965 shares of the company’s stock worth $64,340,000 after acquiring an additional 38,777 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in Braze in the 4th quarter worth approximately $215,000. Institutional investors own 90.47% of the company’s stock.

Braze Price Performance

Braze stock opened at $25.31 on Friday. Braze has a one year low of $25.01 and a one year high of $48.33. The stock has a market capitalization of $2.67 billion, a PE ratio of -25.06 and a beta of 1.10. The business’s fifty day moving average is $28.48 and its 200 day moving average is $33.40.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The company had revenue of $162.06 million for the quarter, compared to analysts’ expectations of $158.60 million. During the same period last year, the firm posted ($0.05) earnings per share. Braze’s revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts expect that Braze will post -0.98 EPS for the current fiscal year.

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.