Braze, Inc. (NASDAQ:BRZE) Given Consensus Recommendation of “Buy” by Analysts

Braze, Inc. (NASDAQ:BRZE) has earned a consensus rating of “Buy” from the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. Seventeen equities research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $61.13.

BRZE has been the subject of several recent research reports. BTIG Research decreased their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Wells Fargo & Company cut their price target on shares of Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Braze in a report on Monday, June 17th. Citigroup increased their price target on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, TD Cowen cut their price target on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a report on Friday, May 31st.

Insider Activity

In other news, CEO William Magnuson sold 17,839 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the sale, the chief executive officer now directly owns 618,675 shares in the company, valued at $25,835,868. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Braze news, CTO Jonathan Hyman sold 1,000 shares of Braze stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.44, for a total value of $42,440.00. Following the transaction, the chief technology officer now owns 183,258 shares in the company, valued at approximately $7,777,469.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Magnuson sold 17,839 shares of Braze stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the transaction, the chief executive officer now owns 618,675 shares in the company, valued at approximately $25,835,868. The disclosure for this sale can be found here. Insiders have sold 81,664 shares of company stock worth $3,371,999 over the last ninety days. 24.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its holdings in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after buying an additional 290 shares in the last quarter. American International Group Inc. lifted its holdings in Braze by 1.2% in the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after buying an additional 310 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Braze by 2.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,831 shares of the company’s stock worth $1,266,000 after buying an additional 588 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after buying an additional 738 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Price Performance

NASDAQ BRZE opened at $42.92 on Wednesday. Braze has a 1 year low of $33.93 and a 1 year high of $61.53. The company has a market capitalization of $4.36 billion, a PE ratio of -33.53 and a beta of 1.06. The company has a fifty day moving average of $38.57 and a two-hundred day moving average of $45.60.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.01. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. The business had revenue of $135.46 million during the quarter, compared to the consensus estimate of $131.56 million. On average, research analysts expect that Braze will post -1.21 earnings per share for the current year.

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.