Braze (NASDAQ:BRZE) Trading 6.8% Higher – Still a Buy?

Shares of Braze, Inc. (NASDAQ:BRZE) shot up 6.8% during mid-day trading on Thursday . The company traded as high as $39.07 and last traded at $38.48. 161,322 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,026,151 shares. The stock had previously closed at $36.02.

Analyst Ratings Changes

A number of brokerages recently commented on BRZE. Macquarie began coverage on Braze in a report on Thursday, October 31st. They issued a “neutral” rating and a $30.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. Piper Sandler reduced their target price on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. UBS Group dropped their price target on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group dropped their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.47.

Braze Stock Up 6.6 %

The business has a 50-day moving average price of $32.86 and a 200-day moving average price of $37.48. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of -32.51 and a beta of 1.03.

Braze (NASDAQ:BRZE) last issued 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. The company had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) EPS. On average, equities research analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current year.

Insider Transactions at Braze

In other Braze news, CTO Jonathan Hyman sold 6,930 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the transaction, the chief technology officer now owns 163,020 shares in the company, valued at approximately $5,616,039. This trade represents a 4.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Isabelle Winkles sold 10,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.15, for a total value of $451,500.00. Following the completion of the transaction, the chief financial officer now owns 216,208 shares in the company, valued at $9,761,791.20. The trade was a 4.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 190,479 shares of company stock worth $7,148,911 over the last quarter. 24.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRZE. SG Americas Securities LLC purchased a new position in Braze in the 1st quarter valued at $114,000. Blair William & Co. IL raised its holdings in shares of Braze by 37.2% during the 1st quarter. Blair William & Co. IL now owns 12,645 shares of the company’s stock worth $560,000 after acquiring an additional 3,431 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Braze by 44.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 22,385 shares of the company’s stock worth $992,000 after acquiring an additional 6,887 shares during the period. Vanguard Group Inc. raised its holdings in shares of Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after acquiring an additional 148,366 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Company Profile

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.