Braze, Inc. (NASDAQ:BRZE) Given Average Rating of "Moderate Buy" by Brokerages

Braze, Inc. (NASDAQ:BRZE - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-one brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $46.60.

A number of equities analysts recently weighed in on BRZE shares. Citigroup upped their target price on shares of Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. DA Davidson dropped their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a "buy" rating in a research report on Friday, March 28th. Wells Fargo & Company reduced their target price on Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James decreased their target price on Braze from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, June 6th.

Braze Stock Down 4.1%

Shares of Braze stock opened at $27.31 on Friday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -23.96 and a beta of 1.22. The stock's 50-day simple moving average is $32.46 and its 200-day simple moving average is $37.64. Braze has a 52 week low of $27.25 and a 52 week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company had revenue of $162.06 million for the quarter, compared to the consensus estimate of $158.60 million. During the same quarter last year, the company earned ($0.05) EPS. The firm's quarterly revenue was up 19.6% on a year-over-year basis. On average, equities analysts expect that Braze will post -0.98 earnings per share for the current year.

Insider Activity

In related news, Director Phillip M. Fernandez sold 1,500 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the transaction, the director now owns 15,269 shares in the company, valued at $633,052.74. The trade was a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $122,171.40. Following the completion of the sale, the chief accounting officer now owns 69,274 shares in the company, valued at approximately $2,485,551.12. The trade was a 4.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,150 shares of company stock valued at $2,540,814. 18.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Braze

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Braze by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company's stock worth $321,542,000 after acquiring an additional 447,746 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Braze by 2.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company's stock worth $112,798,000 after purchasing an additional 63,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Braze by 27.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock worth $96,711,000 after purchasing an additional 500,667 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Braze by 121.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company's stock valued at $92,028,000 after purchasing an additional 1,203,149 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Braze by 107.0% in the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock worth $82,246,000 after purchasing an additional 1,015,007 shares in the last quarter. 90.47% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.