Braze (NASDAQ:BRZE) Receives "Market Outperform" Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Braze (NASDAQ:BRZE - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $68.00 target price on the stock.

Several other research analysts have also recently commented on the company. Citigroup increased their price target on Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Stifel Nicolaus set a $50.00 price objective on Braze 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 for the company in a research report on Friday, May 16th. Wells Fargo & Company cut their price objective on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Braze in a research report on Friday. One investment analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.60.

Braze Stock Down 17.6%

Shares of NASDAQ:BRZE traded down $6.37 during mid-day trading on Friday, reaching $29.73. 7,732,131 shares of the stock were exchanged, compared to its average volume of 1,280,611. The stock's 50 day simple moving average is $32.78 and its 200-day simple moving average is $37.97. Braze has a one year low of $27.45 and a one year high of $48.33. The company has a market cap of $3.11 billion, a P/E ratio of -26.08 and a beta of 1.22.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm had revenue of $162.06 million during the quarter, compared to analysts' expectations of $158.60 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The business's quarterly revenue was up 19.6% compared to the same quarter last year. Analysts anticipate that Braze will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Myles Kleeger sold 9,189 shares of Braze stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $329,701.32. Following the transaction, the insider now owns 159,693 shares in the company, valued at approximately $5,729,784.84. This trade represents a 5.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction on Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the transaction, the director now owns 15,269 shares in the company, valued at approximately $633,052.74. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,150 shares of company stock worth $2,540,814 in the last 90 days. Company insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On Braze

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Braze by 168.0% during 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. GAMMA Investing LLC boosted its holdings in shares of Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after acquiring an additional 517 shares in the last quarter. Quarry LP boosted its holdings 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 acquiring an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after acquiring an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Braze during the 1st quarter valued at $36,000. 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.