Braze (NASDAQ:BRZE) Given "Buy" Rating at DA Davidson

Key Points

• DA Davidson has reiterated a "Buy" rating for Braze (NASDAQ: BRZE) with a price target of $40.00, suggesting a potential upside of 44.61% from its previous close.
• Braze reported $162.06 million in revenue for the last quarter, surpassing analyst expectations, and its earnings per share (EPS) of $0.07 exceeded the consensus estimate.
• Over the past 90 days, insiders have sold a total of 72,354 shares of Braze stock, valued at nearly $1.9 million, indicating potential shifts in insider sentiment.

Braze (NASDAQ:BRZE - Get Free Report)'s stock had its "buy" rating reiterated by DA Davidson in a research report issued to clients and investors on Friday, MarketBeat.com reports. They presently have a $40.00 target price on the stock. DA Davidson's price objective would indicate a potential upside of 27.75% from the company's previous close.

Several other brokerages also recently weighed in on BRZE. Oppenheimer decreased their target price on Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Macquarie cut their price target on Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Braze in a research report on Friday, June 6th. Barclays dropped their target price on shares of Braze from $43.00 to $35.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Finally, Stephens set a $41.00 price target on shares of Braze and gave the company an "overweight" rating in a report on Friday, June 6th. Twenty equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $45.10.

Braze Stock Down 3.1%

BRZE stock traded down $0.99 during mid-day trading on Friday, reaching $31.31. 3,022,401 shares of the stock traded hands, compared to its average volume of 1,462,808. The firm has a market capitalization of $3.31 billion, a PE ratio of -30.11 and a beta of 1.10. The business has a 50-day moving average of $27.41 and a two-hundred day moving average of $30.93. Braze has a 52 week low of $23.91 and a 52 week high of $48.33.

Insiders Place Their Bets

In other Braze news, CAO Pankaj Malik sold 2,344 shares of Braze stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $60,803.36. Following the completion of the transaction, the chief accounting officer directly owned 66,930 shares of the company's stock, valued at approximately $1,736,164.20. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Magnuson sold 24,325 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total transaction of $630,990.50. Following the completion of the sale, the chief executive officer owned 721,444 shares in the company, valued at $18,714,257.36. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,624 shares of company stock worth $2,021,306 over the last quarter. Corporate insiders own 18.20% of the company's stock.

Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. Tower Research Capital LLC TRC grew its stake in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after buying an additional 405 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after acquiring an additional 517 shares in the last quarter. Quarry LP grew its position 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. Caitong International Asset Management Co. Ltd acquired a new stake in Braze during the 1st quarter valued at $36,000. Finally, SBI Securities Co. Ltd. raised its position in Braze by 173.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company's stock valued at $39,000 after purchasing an additional 870 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.