Braze, Inc. (NASDAQ:BRZE) Receives Consensus Rating of "Buy" from Brokerages

Braze, Inc. (NASDAQ:BRZE - Get Free Report) has received a consensus recommendation of "Buy" from the twenty-one analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $50.10.

A number of brokerages have issued reports on BRZE. Raymond James raised their price target on shares of Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Canaccord Genuity Group upped their price target on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Barclays cut their price objective on Braze from $70.00 to $47.00 and set an "overweight" rating on the stock in a research report on Friday. Stephens began coverage on Braze in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price for the company. Finally, Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the company a "buy" rating in a report on Friday, March 28th.

Braze Stock Down 3.9%

NASDAQ BRZE opened at $35.46 on Tuesday. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -31.11 and a beta of 1.15. The company has a 50-day simple moving average of $33.09 and a two-hundred day simple moving average of $37.96. Braze has a 12-month low of $27.45 and a 12-month high of $48.33.

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

Insider Activity at Braze

In related news, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the completion of the sale, the general counsel now directly owns 182,109 shares in the company, valued at approximately $7,288,002.18. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 8,365 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.12, for a total transaction of $335,603.80. Following the sale, the insider now directly owns 168,882 shares in the company, valued at approximately $6,775,545.84. The trade was a 4.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,518 shares of company stock valued at $666,397. 24.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after purchasing an additional 405 shares during the period. GAMMA Investing LLC boosted its position in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after purchasing an additional 517 shares during the last quarter. Quarry LP grew its stake 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 period. 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, EverSource Wealth Advisors LLC raised its position in Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after acquiring an additional 928 shares during the period. 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.