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

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a research note issued on Friday,Benzinga reports. They presently have a $30.00 price objective on the stock. BTIG Research’s price target points to a potential upside of 31.18% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of Braze from $43.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Citizens Jmp decreased their price objective on shares of Braze from $68.00 to $35.00 and set a “market outperform” rating for the company in a report on Wednesday, March 25th. Barclays upped their price objective on shares of Braze from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, March 25th. The Goldman Sachs Group decreased their price objective on shares of Braze from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Braze in a report on Monday, December 29th. Twenty-two investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.90.

Braze Trading Up 0.6%

Shares of NASDAQ:BRZE opened at $22.87 on Friday. The stock has a market capitalization of $2.59 billion, a PE ratio of -18.75 and a beta of 0.89. Braze has a 1 year low of $15.26 and a 1 year high of $37.67. The firm has a fifty day moving average price of $19.72 and a 200 day moving average price of $25.55.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Tuesday, March 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $205.17 million during the quarter, compared to the consensus estimate of $198.23 million. Braze had a negative return on equity of 18.75% and a negative net margin of 17.78%.The company’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, sell-side analysts forecast that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Braze

In other Braze news, CEO William Magnuson sold 26,413 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $447,172.09. Following the completion of the sale, the chief executive officer directly owned 4,491,098 shares in the company, valued at $76,034,289.14. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Astha Malik sold 14,049 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $237,849.57. Following the sale, the insider owned 205,289 shares of the company’s stock, valued at $3,475,542.77. This trade represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 95,676 shares of company stock valued at $1,737,811. 18.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of Braze in the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Braze by 3,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock valued at $28,000 after buying an additional 803 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after buying an additional 1,404 shares during the period. Quarry LP bought a new stake in shares of Braze in the third quarter valued at about $46,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Braze by 58.2% in the third quarter. Clearstead Advisors LLC now owns 1,685 shares of the company’s stock valued at $48,000 after buying an additional 620 shares during the period. 90.47% of the stock is currently owned by institutional investors.

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.