DA Davidson Reiterates Buy Rating for Braze (NASDAQ:BRZE)

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 reissued by stock analysts at DA Davidson in a research note issued to investors on Friday, MarketBeat.com reports. They presently have a $40.00 target price on the stock. DA Davidson's price target would suggest a potential upside of 31.82% from the company's current price.

Other equities research analysts have also issued reports about the company. Oppenheimer dropped their target price on Braze from $44.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Loop Capital lowered their price target on shares of Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, June 6th. UBS Group cut their price objective on shares of Braze from $51.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. Raymond James Financial reduced their target price on shares of Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Braze from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, June 6th. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.10.

Braze Stock Down 3.1%

Shares of NASDAQ:BRZE traded down $0.97 during trading on Friday, hitting $30.35. 904,169 shares of the company traded hands, compared to its average volume of 1,459,178. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -29.21 and a beta of 1.10. The business's fifty day moving average is $27.47 and its 200-day moving average is $30.93. Braze has a one year low of $23.91 and a one year high of $48.33.

Insider Buying and Selling

In other news, insider Astha Malik sold 3,270 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $32.51, for a total transaction of $106,307.70. Following the completion of the transaction, the insider owned 233,660 shares in the company, valued at approximately $7,596,286.60. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 4,943 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $25.14, for a total transaction of $124,267.02. Following the sale, the general counsel directly owned 229,724 shares of the company's stock, valued at approximately $5,775,261.36. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,624 shares of company stock worth $2,021,306 in the last ninety days. Insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On Braze

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Braze by 2.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock worth $559,000 after buying an additional 316 shares during the period. Algert Global LLC grew its holdings in shares of Braze by 24.6% during the fourth quarter. Algert Global LLC now owns 54,760 shares of the company's stock valued at $2,293,000 after buying an additional 10,794 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Braze by 78.6% during the fourth quarter. Ameriprise Financial Inc. now owns 599,192 shares of the company's stock valued at $25,094,000 after buying an additional 263,694 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Braze during the fourth quarter valued at $803,000. Institutional investors and hedge funds own 90.47% of the company's stock.

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.