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

Braze, Inc. (NASDAQ:BRZE - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-one ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $46.30.

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial reduced 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. Canaccord Genuity Group boosted their price target on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Barclays dropped their price target on Braze from $70.00 to $47.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, DA Davidson lowered their target price on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th.

Insider Transactions at Braze

In other Braze news, CTO Jonathan Hyman sold 9,197 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $329,988.36. Following the completion of the sale, the chief technology officer owned 214,024 shares of the company's stock, valued at $7,679,181.12. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Myles Kleeger sold 9,189 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $329,701.32. Following the sale, the insider directly owned 159,693 shares of the company's stock, valued at approximately $5,729,784.84. This trade represents a 5.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,483 shares of company stock valued at $2,349,530. 18.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BRZE. Tower Research Capital LLC TRC boosted its holdings in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares during the period. GAMMA Investing LLC increased its position in shares of Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after purchasing an additional 517 shares in the last quarter. Quarry LP increased its position in shares of Braze by 296.0% during the first quarter. Quarry LP now owns 796 shares of the company's stock worth $29,000 after purchasing an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after purchasing an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Braze during the first quarter worth about $36,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Price Performance

Shares of BRZE stock traded down $0.33 during mid-day trading on Wednesday, hitting $28.50. The stock had a trading volume of 1,219,642 shares, compared to its average volume of 1,318,498. Braze has a 12-month low of $25.22 and a 12-month high of $48.33. The firm has a market capitalization of $3.01 billion, a P/E ratio of -28.22 and a beta of 1.10. The firm's 50-day moving average is $31.63 and its two-hundred day moving average is $35.92.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $162.06 million during the quarter, compared to analyst estimates of $158.60 million. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. Analysts expect that Braze will post -0.98 EPS for the current year.

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.