Glenmede Trust Co. NA Increases Stake in Braze, Inc. $BRZE

Key Points

• Glenmede Trust increased its Braze stake by 36.5% in the first quarter, adding 144,176 shares to own 538,845 shares worth approximately $12.7 million.
• Institutional ownership remains high at 90.47%, with Alyeska, UBS, Battery Management, Bank of America and Vanguard also increasing their positions.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $34.76 price target. Braze reported 30.2% year-over-year revenue growth to $211 million in its latest quarter, meeting EPS estimates of $0.10.

Glenmede Trust Co. NA increased its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 36.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 538,845 shares of the company's stock after acquiring an additional 144,176 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.47% of Braze worth $12,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. boosted its position in Braze by 592.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,105,024 shares of the company's stock valued at $72,181,000 after purchasing an additional 1,801,019 shares in the last quarter. UBS Group AG grew its stake in Braze by 421.1% in the third quarter. UBS Group AG now owns 1,279,678 shares of the company's stock valued at $36,394,000 after purchasing an additional 1,034,087 shares during the last quarter. Battery Management CORP. raised its holdings in Braze by 70.2% in the third quarter. Battery Management CORP. now owns 2,425,000 shares of the company's stock worth $68,967,000 after purchasing an additional 1,000,000 shares in the last quarter. Bank of America Corp DE raised its holdings in Braze by 238.2% in the third quarter. Bank of America Corp DE now owns 1,351,227 shares of the company's stock worth $38,429,000 after purchasing an additional 951,674 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Braze by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company's stock valued at $337,793,000 after buying an additional 892,635 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BRZE shares. JPMorgan Chase & Co. raised their price objective on Braze from $33.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. The Goldman Sachs Group set a $34.00 target price on Braze and gave the company a "buy" rating in a research report on Wednesday, June 24th. Citizens Jmp reiterated a "market outperform" rating and issued a $35.00 price target on shares of Braze in a research note on Thursday, May 28th. Citigroup lowered their price target on Braze from $49.00 to $48.00 and set a "buy" rating for the company in a report on Friday, May 29th. Finally, Stifel Nicolaus set a $30.00 price target on Braze in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Braze presently has an average rating of "Moderate Buy" and an average price target of $34.76.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $24.92 on Monday. Braze, Inc. has a 52-week low of $15.26 and a 52-week high of $37.33. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -22.25 and a beta of 0.83. The business has a 50-day moving average price of $23.35 and a 200-day moving average price of $21.89.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Braze had a negative return on equity of 17.52% and a negative net margin of 15.51%.The firm had revenue of $211.00 million for the quarter, compared to analyst estimates of $205.19 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Braze's revenue for the quarter was up 30.2% on a year-over-year basis. Braze has set its Q2 2027 guidance at 0.150-0.160 EPS. As a group, equities analysts anticipate that Braze, Inc. will post -0.78 EPS for the current fiscal year.

About Braze

Braze, Inc is a publicly traded software company NASDAQ: BRZE that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze's platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.

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