Braze (NASDAQ:BRZE) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Braze (NASDAQ:BRZE) in a research report sent to investors on Friday,Benzinga reports. They currently have a $50.00 price target on the stock.

Several other analysts also recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer reissued an “outperform” rating and set a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. Citigroup lifted their target price on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Macquarie increased their price target on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, William Blair restated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $53.00.

Braze Stock Up 2.2 %

NASDAQ:BRZE opened at $37.51 on Friday. The stock has a fifty day simple moving average of $39.66 and a 200 day simple moving average of $37.98. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17. Braze has a 1-year low of $29.18 and a 1-year high of $48.33.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts predict that Braze will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 3,700 shares of Braze stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.77, for a total value of $169,349.00. Following the transaction, the chief accounting officer now owns 54,784 shares in the company, valued at $2,507,463.68. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Myles Kleeger sold 8,365 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the transaction, the insider now directly owns 168,882 shares of the company’s stock, valued at approximately $6,775,545.84. This represents a 4.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,470 shares of company stock worth $3,841,921. 24.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV boosted its stake in Braze by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock valued at $559,000 after purchasing an additional 316 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Braze by 3.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after acquiring an additional 346 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd increased its position in Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after acquiring an additional 827 shares during the period. Finally, KBC Group NV raised its stake in Braze by 39.7% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after purchasing an additional 832 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

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.