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

Shares of Braze, Inc. (NASDAQ:BRZE - Get Free Report) have been assigned a consensus recommendation of "Buy" from the twenty-one research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.25.

BRZE has been the subject of a number of research analyst reports. Raymond James increased their price target on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Canaccord Genuity Group raised their target price on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Citigroup increased their price target on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Braze in a research report on Friday, March 28th.

Insider Transactions at Braze

In other news, CEO William Magnuson sold 18,050 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now owns 564,766 shares of the company's stock, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jonathan Hyman sold 5,210 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the transaction, the chief technology officer now owns 157,810 shares of the company's stock, valued at approximately $6,441,804.20. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,937 shares of company stock valued at $2,235,381. 24.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

A number of hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC purchased a new stake in Braze during the fourth quarter valued at about $498,000. JPMorgan Chase & Co. increased its position in shares of Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock valued at $58,489,000 after purchasing an additional 1,075,998 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Braze during the 4th quarter valued at about $708,000. Barclays PLC lifted its position in Braze by 148.1% in the 3rd quarter. Barclays PLC now owns 107,358 shares of the company's stock worth $3,472,000 after buying an additional 64,093 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Braze by 27.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock worth $374,000 after buying an additional 1,938 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Braze Stock Down 1.3 %

NASDAQ BRZE traded down $0.41 on Friday, reaching $31.13. The company had a trading volume of 754,745 shares, compared to its average volume of 1,236,930. The stock has a market capitalization of $3.26 billion, a P/E ratio of -27.31 and a beta of 1.13. The company's fifty day moving average is $33.46 and its 200 day moving average is $37.58. Braze has a 52-week low of $27.45 and a 52-week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm's revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm earned ($0.04) earnings per share. On average, research analysts expect that Braze will post -0.98 EPS for the current year.

Braze Company Profile

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.