Braze (NASDAQ:BRZE) Stock Price Expected to Rise, Raymond James Analyst Says

Braze (NASDAQ:BRZE) had its price target raised by Raymond James from $45.00 to $48.00 in a research note released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

BRZE has been the subject of a number of other research reports. Macquarie raised their price objective on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. William Blair reiterated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Stephens started coverage on shares of Braze in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective on the stock. Citigroup raised their target price on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $51.00 price target on shares of Braze in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.00.

Braze Stock Performance

Shares of NASDAQ:BRZE opened at $37.51 on Friday. Braze has a 52-week low of $29.18 and a 52-week high of $48.33. The company has a market capitalization of $3.88 billion, a PE ratio of -32.90 and a beta of 1.17. The company has a fifty day moving average of $39.66 and a 200-day moving average of $38.03.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. Braze’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, equities analysts forecast that Braze will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In other news, CEO William Magnuson sold 18,050 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the transaction, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $169,349.00. Following the completion of the sale, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,470 shares of company stock valued at $3,841,921. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Braze by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Braze by 2.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company’s stock valued at $112,798,000 after buying an additional 63,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Braze by 27.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock worth $96,711,000 after buying an additional 500,667 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Braze by 121.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock valued at $92,028,000 after buying an additional 1,203,149 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Braze by 107.0% during the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company’s stock valued at $82,246,000 after acquiring an additional 1,015,007 shares in the last quarter. 90.47% of the stock is 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.