Braze (NASDAQ:BRZE) Coverage Initiated by Analysts at Stifel Nicolaus

Analysts at Stifel Nicolaus began coverage on shares of Braze (NASDAQ:BRZE) in a report released on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $37.00 price target on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 19.62% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Braze in a report on Tuesday, September 24th. DA Davidson reduced their price objective on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Piper Sandler lowered their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Loop Capital reaffirmed a “buy” rating and set a $75.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Finally, TD Cowen cut their target price on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Nineteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze currently has a consensus rating of “Buy” and a consensus target price of $57.33.

Braze Stock Performance

NASDAQ:BRZE opened at $30.93 on Tuesday. The business has a 50 day moving average price of $36.72 and a 200-day moving average price of $38.69. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The firm has a market cap of $3.14 billion, a PE ratio of -24.16 and a beta of 1.03.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. During the same quarter in the prior year, the business earned ($0.30) EPS. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. Research analysts predict that Braze will post -1.02 EPS for the current year.

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 7,079 shares of Braze stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $42.18, for a total value of $298,592.22. Following the completion of the sale, the general counsel now directly owns 221,840 shares in the company, valued at $9,357,211.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $42.18, for a total transaction of $189,810.00. Following the transaction, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at approximately $10,234,006.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 7,079 shares of Braze stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $42.18, for a total transaction of $298,592.22. Following the completion of the sale, the general counsel now owns 221,840 shares of the company’s stock, valued at $9,357,211.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,737 shares of company stock worth $9,301,358. Insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted its holdings in 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 last quarter. Quarry LP bought a new stake in Braze during the second quarter valued at approximately $50,000. Comerica Bank increased its position in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the last quarter. Canton Hathaway LLC raised its position in Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after purchasing an additional 1,187 shares during the period. Finally, RiverPark Advisors LLC grew its holdings in shares of Braze by 360.9% in the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares during the last quarter. Institutional investors and hedge funds 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.