Braze (NASDAQ:BRZE) Price Target Raised to $36.00 at Oppenheimer

Key Points

• Oppenheimer raised Braze’s price target to $36 from $30 and maintained an “outperform” rating, implying 6.39% upside from the previous close. Analysts overall assign the stock a “Moderate Buy” rating with an average target of $35.41.
• Braze reported quarterly revenue of $211 million, exceeding expectations of $205.19 million, while earnings per share matched estimates at $0.10. Revenue increased 30.2% year over year, although the company continued to post negative net margins and return on equity.
• The stock opened at $33.84 and was trading up 9.8%, with a market capitalization of approximately $3.81 billion. Insiders sold 161,568 shares worth about $4.73 million during the past quarter, while institutional investors own 90.47% of the company.

Braze (NASDAQ:BRZE - Get Free Report) had its price target hoisted by equities research analysts at Oppenheimer from $30.00 to $36.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price points to a potential upside of 6.39% from the stock's previous close.

A number of other brokerages have also commented on BRZE. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Braze in a report on Tuesday, July 7th. Stifel Nicolaus set a $30.00 target price on shares of Braze in a research report on Thursday, May 28th. Piper Sandler restated an "overweight" rating and issued a $27.00 price target on shares of Braze in a research note on Thursday, May 28th. Canaccord Genuity Group lowered 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 Thursday, May 28th. Finally, Citigroup cut their price objective on shares of Braze from $49.00 to $48.00 and set a "buy" rating for the company in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $35.41.

Braze Trading Up 9.8%

BRZE stock opened at $33.84 on Thursday. Braze has a 1-year low of $15.26 and a 1-year high of $37.33. The business's 50 day simple moving average is $25.28 and its 200 day simple moving average is $22.57. The firm has a market capitalization of $3.81 billion, a PE ratio of -30.13 and a beta of 0.83.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $211.00 million during the quarter, compared to the consensus estimate of $205.19 million. Braze had a negative return on equity of 17.52% and a negative net margin of 15.51%.The company's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. As a group, sell-side analysts predict that Braze will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In related news, CTO Jonathan Hyman sold 10,000 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.04, for a total value of $310,400.00. Following the sale, the chief technology officer directly owned 1,185,219 shares of the company's stock, valued at $36,789,197.76. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Astha Malik sold 15,724 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $29.57, for a total value of $464,958.68. Following the completion of the sale, the insider directly owned 326,233 shares in the company, valued at $9,646,709.81. This trade represents a 4.60% decrease in their ownership of the stock. 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 quarter, insiders have sold 161,568 shares of company stock valued at $4,732,721. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. bought a new stake in shares of Braze during the 4th quarter valued at approximately $27,000. Fifth Third Bancorp acquired a new stake in Braze in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd boosted its position in 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 in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Braze during the second quarter worth $36,000. Finally, Osaic Holdings Inc. grew its stake in shares of Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company's stock worth $44,000 after buying an additional 1,404 shares during the last quarter. 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.

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