BTIG Research Reaffirms Buy Rating for Braze (NASDAQ:BRZE)

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research note issued on Thursday, Benzinga reports. They currently have a $35.00 target price on the stock. BTIG Research’s target price points to a potential upside of 39.44% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $38.00 price target on shares of Braze in a report on Wednesday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Wednesday, September 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $38.00 target price on shares of Braze in a report on Wednesday. DA Davidson reaffirmed a “buy” rating and issued a $40.00 target price on shares of Braze in a report on Wednesday, September 9th. Finally, Oppenheimer increased their target price on shares of Braze from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Nineteen 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.21.

Braze Trading Up 8.4%

NASDAQ BRZE opened at $25.10 on Thursday. The stock has a market capitalization of $2.85 billion, a P/E ratio of -24.37 and a beta of 0.88. Braze has a 52-week low of $15.26 and a 52-week high of $37.33. The firm has a 50-day moving average price of $27.51 and a 200 day moving average price of $24.22. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.02.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $227.23 million during the quarter, compared to analysts’ expectations of $220.27 million. Braze had a negative net margin of 13.55% and a negative return on equity of 16.11%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. 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 research analysts expect that Braze will post -0.7 EPS for the current year.

Insiders Place Their Bets

In other Braze news, CRO Edward 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 in the company, valued at $12,854,189.40. This trade represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jonathan Hyman sold 42,000 shares of Braze stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $32.47, for a total transaction of $1,363,740.00. Following the completion of the transaction, the chief technology officer owned 1,143,219 shares in the company, valued at approximately $37,120,320.93. This trade represents a 3.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 203,568 shares of company stock valued at $6,096,461. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of hedge funds have recently made changes to their positions in the stock. Whetstone Capital Advisors LLC acquired a new position in shares of Braze in the 2nd quarter valued at $671,000. Integrated Wealth Concepts LLC acquired a new position in shares of Braze during the 2nd quarter valued at $50,000. Squarepoint Ops LLC lifted its holdings in shares of Braze by 13.3% during the 2nd quarter. Squarepoint Ops LLC now owns 391,337 shares of the company’s stock valued at $8,488,000 after acquiring an additional 46,049 shares in the last quarter. Corient Private Wealth LP grew its position in Braze by 5.5% in the 2nd quarter. Corient Private Wealth LP now owns 102,896 shares of the company’s stock worth $2,232,000 after purchasing an additional 5,360 shares during the last quarter. Finally, Absolute Gestao de Investimentos Ltda. bought a new position in Braze in the 2nd quarter worth about $325,000. Institutional investors and hedge funds 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.