Braze, Inc. (NASDAQ:BRZE) Receives $53.74 Average Price Target from Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $53.74.

A number of analysts recently weighed in on BRZE shares. Citigroup assumed coverage on Braze in a report on Tuesday, September 5th. They issued a “buy” rating and a $60.00 price objective for the company. BTIG Research raised their target price on Braze from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Piper Sandler raised their target price on Braze from $45.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Wells Fargo & Company raised their target price on Braze from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 5th. Finally, Oppenheimer raised their target price on Braze from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, September 8th.

Insider Activity

In other news, CTO Jonathan Hyman sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $42.49, for a total value of $849,800.00. Following the completion of the sale, the chief technology officer now directly owns 133,424 shares in the company, valued at approximately $5,669,185.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Braze news, CTO Jonathan Hyman sold 20,000 shares of Braze stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $42.49, for a total transaction of $849,800.00. Following the completion of the transaction, the chief technology officer now owns 133,424 shares in the company, valued at approximately $5,669,185.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Isabelle Winkles sold 5,000 shares of Braze stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $47.09, for a total value of $235,450.00. Following the transaction, the chief financial officer now owns 223,542 shares of the company’s stock, valued at approximately $10,526,592.78. The disclosure for this sale can be found here. Insiders sold a total of 193,328 shares of company stock worth $9,115,473 in the last three months. Company insiders own 26.48% of the company’s stock.

Hedge Funds Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the stock. Fred Alger Management LLC acquired a new position in Braze during the 3rd quarter valued at about $29,000. BluePath Capital Management LLC purchased a new position in shares of Braze in the 3rd quarter worth approximately $31,000. Canton Hathaway LLC purchased a new position in shares of Braze in the 2nd quarter worth approximately $35,000. Royal Bank of Canada boosted its stake in shares of Braze by 189.3% in the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after buying an additional 759 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Braze in the 3rd quarter worth approximately $61,000. Institutional investors and hedge funds own 49.47% of the company’s stock.

Braze Trading Up 2.7 %

Shares of BRZE stock opened at $50.05 on Monday. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -35.00 and a beta of 1.01. The business’s 50-day moving average price is $45.87 and its 200-day moving average price is $41.78. Braze has a 12 month low of $23.10 and a 12 month high of $50.41.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 7th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.09. Braze had a negative net margin of 33.51% and a negative return on equity of 29.85%. The business had revenue of $115.11 million for the quarter, compared to the consensus estimate of $108.47 million. On average, sell-side analysts predict that Braze will post -1.39 earnings per share for the current fiscal year.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.