Cantor Fitzgerald Begins Coverage on Braze (NASDAQ:BRZE)

Cantor Fitzgerald initiated coverage on shares of Braze (NASDAQ:BRZE - Free Report) in a research report report published on Tuesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $45.00 price objective on the stock.

BRZE has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup raised their target price on shares of Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Stephens assumed coverage on shares of Braze in a report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target on the stock. Canaccord Genuity Group boosted their price objective on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Raymond James increased their target price on Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Braze currently has a consensus rating of "Buy" and a consensus target price of $49.25.

Braze Price Performance

NASDAQ BRZE traded up $0.37 on Tuesday, hitting $36.61. 743,131 shares of the stock were exchanged, compared to its average volume of 1,257,063. The business's fifty day moving average is $32.93 and its 200 day moving average is $38.01. Braze has a 52 week low of $27.45 and a 52 week high of $48.33. The company has a market capitalization of $3.83 billion, a PE ratio of -32.11 and a beta of 1.15.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. Braze's revenue was up 22.4% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. Analysts predict that Braze will post -0.98 EPS for the current fiscal year.

Insider Transactions at Braze

In related news, CTO Jonathan Hyman sold 9,197 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 transaction of $329,988.36. Following the sale, the chief technology officer now directly owns 214,024 shares of the company's stock, valued at approximately $7,679,181.12. The trade was a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $122,171.40. Following the transaction, the chief accounting officer now owns 69,274 shares of the company's stock, valued at approximately $2,485,551.12. This represents a 4.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,150 shares of company stock valued at $2,540,814. Corporate insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings 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 in the last quarter. GAMMA Investing LLC grew its holdings 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 during the last quarter. Quarry LP grew its holdings in Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company's stock worth $29,000 after acquiring an additional 595 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after buying an additional 827 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Braze by 8,436.4% during 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 last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.