Braze (NASDAQ:BRZE) Rating Reiterated by Piper Sandler

Piper Sandler restated their overweight rating on shares of Braze (NASDAQ:BRZEFree Report) in a research report report published on Friday morning, Benzinga reports. Piper Sandler currently has a $51.00 target price on the stock.

A number of other analysts have also commented on BRZE. Scotiabank raised Braze from a sector perform rating to a sector outperform rating and raised their price target for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. JMP Securities reaffirmed a market outperform rating and issued a $68.00 price target on shares of Braze in a research note on Friday, June 7th. Barclays lowered their price objective on Braze from $80.00 to $70.00 and set an overweight rating for the company in a research report on Monday, August 26th. Canaccord Genuity Group raised their price objective on Braze from $50.00 to $53.00 and gave the company a buy rating in a research report on Friday, June 7th. Finally, TD Cowen lowered their price objective on Braze from $65.00 to $52.00 and set a buy rating for the company in a research report on Friday, May 31st. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $60.50.

Check Out Our Latest Analysis on BRZE

Braze Stock Down 19.4 %

Shares of BRZE stock opened at $35.57 on Friday. The stock has a fifty day moving average of $41.21 and a 200 day moving average of $42.83. Braze has a 52 week low of $33.93 and a 52 week high of $61.53. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -27.79 and a beta of 1.07.

Braze (NASDAQ:BRZEGet Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The company had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the firm posted ($0.30) earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. Equities research analysts anticipate that Braze will post -1.21 earnings per share for the current year.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 8,553 shares of Braze stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $44.31, for a total value of $378,983.43. Following the completion of the transaction, the general counsel now owns 206,930 shares of the company’s stock, valued at approximately $9,169,068.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the transaction, the chief financial officer now directly owns 242,627 shares in the company, valued at approximately $9,477,010.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 8,553 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $44.31, for a total value of $378,983.43. Following the completion of the transaction, the general counsel now owns 206,930 shares in the company, valued at $9,169,068.30. The disclosure for this sale can be found here. Insiders sold a total of 187,898 shares of company stock valued at $8,081,257 in the last quarter. 24.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Braze

Institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management bought a new position in Braze in the 4th quarter worth $40,000. Covestor Ltd raised 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 purchasing an additional 738 shares during the period. Comerica Bank raised its holdings in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the period. Quarry LP bought a new position in Braze in the 2nd quarter worth $50,000. Finally, RiverPark Advisors LLC raised its holdings in Braze by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares during the period. 90.47% of the stock is owned by institutional investors.

About Braze

(Get Free Report)

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.

Read More

Analyst Recommendations for Braze (NASDAQ:BRZE)

Receive News & Ratings for Braze Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Braze and related companies with MarketBeat.com's FREE daily email newsletter.