Braze (NASDAQ:BRZE) Stock Rating Reaffirmed by DA Davidson

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reissued by analysts at DA Davidson in a research report issued on Friday, Benzinga reports. They currently have a $65.00 price target on the stock. DA Davidson’s price target would indicate a potential upside of 82.28% from the company’s current price.

A number of other research analysts also recently commented on the company. Citigroup increased their target price on Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Oppenheimer reaffirmed an “outperform” rating and set a $60.00 target price on shares of Braze in a report on Wednesday, June 12th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Friday. Piper Sandler reissued an “overweight” rating and issued a $51.00 price target on shares of Braze in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Braze in a report on Friday. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $60.50.

Braze Price Performance

BRZE traded down $8.47 on Friday, reaching $35.66. The company’s stock had a trading volume of 2,403,067 shares, compared to its average volume of 939,387. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -27.86 and a beta of 1.07. Braze has a 1 year low of $33.93 and a 1 year high of $61.53. The business’s 50 day moving average is $41.27 and its 200 day moving average is $43.17.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. Braze’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.30) earnings per share. As a group, research analysts forecast that Braze will post -1.21 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Pankaj Malik sold 2,618 shares of Braze stock in a transaction on Friday, June 21st. The stock was sold at an average price of $35.23, for a total transaction of $92,232.14. Following the transaction, the chief accounting officer now directly owns 76,623 shares in the company, valued at approximately $2,699,428.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $39.06, for a total value of $175,770.00. Following the completion of the transaction, the chief financial officer now owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Pankaj Malik sold 2,618 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $35.23, for a total transaction of $92,232.14. Following the sale, the chief accounting officer now directly owns 76,623 shares in the company, valued at $2,699,428.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,898 shares of company stock worth $8,081,257. 24.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in shares of Braze in the second quarter worth approximately $10,166,000. Quarry LP acquired a new stake in shares of Braze during the 2nd quarter valued at $50,000. Creative Planning grew its holdings in shares of Braze by 1.7% during the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after acquiring an additional 384 shares in the last quarter. Algert Global LLC purchased a new position in shares of Braze during the 2nd quarter valued at $2,376,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Braze in the second quarter worth $971,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.