Raymond James Issues Positive Forecast for Braze (NASDAQ:BRZE) Stock Price

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

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus set a $50.00 price target on Braze and gave the company a “buy” rating in a report on Friday. Oppenheimer restated an “outperform” rating and issued a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. Canaccord Genuity Group lifted their price target on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company restated an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Braze in a research note on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Braze in a research 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. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.00.

Braze Trading Up 2.2 %

Shares of Braze stock opened at $37.51 on Friday. Braze has a 1 year low of $29.18 and a 1 year high of $48.33. The company’s fifty day simple moving average is $39.66 and its 200-day simple moving average is $37.98. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17.

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

Insiders Place Their Bets

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $43.13, for a total transaction of $64,695.00. Following the transaction, the director now owns 15,269 shares of the company’s stock, valued at approximately $658,551.97. This represents a 8.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction on Monday, January 27th. The shares were sold at an average price of $47.22, for a total value of $472,200.00. Following the completion of the sale, the general counsel now directly owns 189,520 shares of the company’s stock, valued at $8,949,134.40. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock valued at $3,841,921 in the last 90 days. 24.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of Braze by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after buying an additional 57,713 shares during the period. Intech Investment Management LLC bought a new position in Braze in the third quarter valued at approximately $673,000. Proficio Capital Partners LLC bought a new position in Braze in the fourth quarter valued at approximately $498,000. Holocene Advisors LP raised its position in shares of Braze by 52.7% during the 3rd quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after acquiring an additional 29,123 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after acquiring an additional 229,660 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.