Braze (NASDAQ:BRZE) Earns Buy Rating from BTIG Research

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a research report issued on Thursday, Benzinga reports. They currently have a $35.00 price target on the stock. BTIG Research’s price objective indicates a potential upside of 36.45% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group lifted their price objective on Braze from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Raymond James Financial lifted their price objective on Braze from $27.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Barclays lifted their price objective on Braze from $31.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Braze in a research report on Wednesday, September 9th. Finally, Piper Sandler restated an “overweight” rating and set a $30.00 price target (up from $27.00) on shares of Braze in a research report on Wednesday, September 9th. Nineteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.21.

Braze Trading Up 2.2%

Braze stock traded up $0.55 during trading hours on Thursday, reaching $25.65. The company had a trading volume of 2,511,157 shares, compared to its average volume of 2,923,133. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50-day moving average price of $27.51 and a 200 day moving average price of $24.22. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -24.90 and a beta of 0.88. Braze has a 12-month low of $15.26 and a 12-month high of $37.33.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $227.23 million for the quarter, compared to analysts’ expectations of $220.27 million. Braze had a negative return on equity of 16.11% and a negative net margin of 13.55%.The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. Braze has set its FY 2027 guidance at 0.640-0.650 EPS and its Q3 2027 guidance at 0.130-0.140 EPS. Equities analysts forecast that Braze will post -0.7 earnings per share for the current year.

Insider Activity at Braze

In related news, CTO Jonathan Hyman sold 42,000 shares of Braze stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $32.47, for a total transaction of $1,363,740.00. Following the sale, the chief technology officer directly owned 1,143,219 shares in the company, valued at $37,120,320.93. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Edward M. Mcdonnell sold 29,732 shares of Braze stock in a transaction on Monday, August 24th. The shares were sold at an average price of $31.38, for a total value of $932,990.16. Following the transaction, the executive owned 409,630 shares of the company’s stock, valued at $12,854,189.40. The trade was a 6.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 203,568 shares of company stock worth $6,096,461 over the last ninety days. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BRZE. Kettle Hill Capital Management LLC purchased a new position in Braze during the fourth quarter valued at $25,639,000. Dimensional Fund Advisors LP purchased a new position in Braze during the first quarter valued at $14,294,000. Bank of New York Mellon Corp purchased a new position in Braze during the second quarter valued at $11,814,000. The Manufacturers Life Insurance Company raised its stake in Braze by 30.4% during 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 buying an additional 439,513 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Braze during the second quarter valued at $7,847,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc is a customer engagement software company that helps businesses build and manage personalized interactions with consumers. Its cloud-based platform enables organizations to collect and analyze customer data, create audience segments, and deliver marketing messages across multiple channels.

The Braze platform supports communication through mobile and web applications, email, SMS, messaging services, and other digital channels. Its offerings include campaign orchestration, customer journey management, in-app and browser messaging, personalization, analytics, experimentation, and artificial intelligence tools designed to help companies improve customer retention and engagement.

The company was founded in 2011 as Appboy by Bill Magnuson, Mark Ghermezian, and Jon Hyman, and later adopted the Braze name.