Braze’s (BRZE) Buy Rating Reiterated at BTIG Research

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reiterated by BTIG Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $30.00 price objective on the stock. BTIG Research’s price target points to a potential upside of 23.20% from the stock’s previous close.

Several other analysts have also recently weighed in on BRZE. JPMorgan Chase & Co. raised their price objective on shares of Braze from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. DA Davidson lowered their price objective on shares of Braze from $42.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Mizuho lowered their price objective on shares of Braze from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Piper Sandler lowered their price objective on shares of Braze from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Finally, Oppenheimer lowered their price objective on shares of Braze from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Twenty-two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.90.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $24.35 on Tuesday. The firm has a fifty day moving average price of $21.78 and a two-hundred day moving average price of $24.57. Braze has a one year low of $15.26 and a one year high of $37.67. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -19.96 and a beta of 0.78.

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

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 35,000 shares of Braze stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $20.29, for a total value of $710,150.00. Following the transaction, the general counsel owned 209,424 shares in the company, valued at $4,249,212.96. This trade represents a 14.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

A number of large investors have recently added to or reduced their stakes in the business. Essential Partners LLC raised its position in Braze by 109.8% in the 1st quarter. Essential Partners LLC now owns 2,174 shares of the company’s stock worth $51,000 after purchasing an additional 1,138 shares during the period. EverSource Wealth Advisors LLC raised its position in Braze by 185.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,355 shares of the company’s stock worth $56,000 after purchasing an additional 1,531 shares during the period. California State Teachers Retirement System raised its position in Braze by 37.8% in the 1st quarter. California State Teachers Retirement System now owns 104,516 shares of the company’s stock worth $2,468,000 after purchasing an additional 28,666 shares during the period. Royal Bank of Canada increased its position in shares of Braze by 66.0% in the first quarter. Royal Bank of Canada now owns 32,811 shares of the company’s stock valued at $775,000 after acquiring an additional 13,045 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Braze by 30.4% in the first quarter. The Manufacturers Life Insurance Company now owns 1,885,577 shares of the company’s stock valued at $44,518,000 after acquiring an additional 439,513 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.