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

Shares of Braze, Inc. (NASDAQ:BRZE) have been assigned an average rating of “Moderate Buy” from the twenty-four analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twenty-two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $36.9048.

BRZE has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price target on shares of Braze from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Oppenheimer decreased their target price on Braze from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Citigroup decreased their target price on Braze from $53.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Citizens Jmp reaffirmed a “market outperform” rating and set a $35.00 target price on shares of Braze in a research note on Wednesday, April 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Braze in a research note on Wednesday, March 25th.

Insider Buying and Selling at Braze

In related news, CTO Jonathan Hyman sold 7,391 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $125,129.63. Following the completion of the sale, the chief technology officer owned 1,692,933 shares of the company’s stock, valued at $28,661,355.69. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $20.29, for a total value of $710,150.00. Following the sale, the general counsel directly owned 209,424 shares of the company’s stock, valued at $4,249,212.96. This represents a 14.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 95,676 shares of company stock valued at $1,737,811 over the last ninety days. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On Braze

Several large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in Braze by 77.8% during the first quarter. PNC Financial Services Group Inc. now owns 24,228 shares of the company’s stock worth $572,000 after purchasing an additional 10,600 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Braze in the first quarter valued at approximately $14,294,000. Swiss National Bank grew its stake in Braze by 3.5% in the first quarter. Swiss National Bank now owns 161,800 shares of the company’s stock valued at $3,820,000 after acquiring an additional 5,400 shares during the period. Bank of New York Mellon Corp grew its stake in Braze by 24.0% in the first quarter. Bank of New York Mellon Corp now owns 530,231 shares of the company’s stock valued at $12,519,000 after acquiring an additional 102,571 shares during the period. Finally, Bleakley Financial Group LLC acquired a new stake in Braze in the first quarter valued at approximately $529,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Trading Down 3.9%

Braze stock opened at $21.72 on Tuesday. The company has a market capitalization of $2.46 billion, a PE ratio of -17.80 and a beta of 0.78. Braze has a 12 month low of $15.26 and a 12 month high of $37.67. The stock has a 50-day moving average price of $21.19 and a two-hundred day moving average price of $25.10.

Braze (NASDAQ:BRZE) last posted its earnings results on Tuesday, March 24th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $205.17 million during the quarter, compared to the consensus estimate of $198.23 million. Braze had a negative net margin of 17.78% and a negative return on equity of 18.75%. Braze’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 earnings per share. As a group, analysts predict that Braze will post -0.87 earnings per share for the current fiscal year.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.