Analysts Set Braze, Inc. (NASDAQ:BRZE) PT at $45.50

Key Points

• Braze, Inc. has been rated as a "Moderate Buy" by analysts, with 20 out of 21 covering firms giving a buy recommendation and an average target price of $45.50.
• CEO William Magnuson and insider Myles Kleeger sold significant shares of Braze, with total insider sales reaching approximately $2.75 million over the last ninety days.
• The company reported earnings per share of $0.07 for the most recent quarter, exceeding analyst expectations and demonstrating a 19.6% year-over-year revenue growth.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-one brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $45.50.

Several equities analysts have recently issued reports on BRZE shares. Stephens set a $41.00 target price on Braze and gave the company an "overweight" rating in a research note on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of Braze in a research report on Friday, June 6th. JPMorgan Chase & Co. dropped their target price on shares of Braze from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, June 6th. DA Davidson cut their target price on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Oppenheimer decreased their price target on shares of Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th.

Braze Trading Up 0.7%

Shares of NASDAQ:BRZE traded up $0.19 during trading on Friday, reaching $27.17. 606,669 shares of the company traded hands, compared to its average volume of 1,368,508. Braze has a 52-week low of $25.22 and a 52-week high of $48.33. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -26.90 and a beta of 1.10. The business's fifty day moving average is $29.10 and its 200-day moving average is $33.78.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $162.06 million during the quarter, compared to analysts' expectations of $158.60 million. Braze had a negative net margin of 16.76% and a negative return on equity of 18.89%. The firm's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS. On average, sell-side analysts predict that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Braze

In other news, CEO William Magnuson sold 25,089 shares of Braze stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $900,193.32. Following the completion of the sale, the chief executive officer directly owned 745,769 shares in the company, valued at $26,758,191.72. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Susan Wiseman sold 4,786 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $27.08, for a total transaction of $129,604.88. Following the transaction, the general counsel owned 239,655 shares in the company, valued at approximately $6,489,857.40. This trade represents a 1.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,270 shares of company stock valued at $2,749,255 over the last three months. 18.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after purchasing an additional 517 shares during the period. Quarry LP increased its position in shares of Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after purchasing an additional 595 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in shares of Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after purchasing an additional 827 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Braze in the first quarter worth approximately $36,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.