Braze (NASDAQ:BRZE) Price Target Raised to $55.00 at Citigroup

Braze (NASDAQ:BRZE) had its target price lifted by research analysts at Citigroup from $50.00 to $55.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 46.63% from the company’s current price.

A number of other research firms also recently issued reports on BRZE. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Braze in a research report on Friday. Stephens began coverage on shares of Braze in a report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price on the stock. Canaccord Genuity Group upped their price target on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a “buy” rating in a research report on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Braze presently has a consensus rating of “Buy” and an average target price of $53.00.

Braze Price Performance

Shares of BRZE stock opened at $37.51 on Friday. The firm’s 50-day simple moving average is $39.66 and its 200-day simple moving average is $38.01. Braze has a 1-year low of $29.18 and a 1-year high of $48.33. The firm has a market cap of $3.88 billion, a P/E ratio of -32.90 and a beta of 1.17.

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

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 3,486 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total transaction of $139,509.72. Following the completion of the transaction, the general counsel now owns 182,109 shares in the company, valued at $7,288,002.18. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Pankaj Malik sold 3,700 shares of the business’s 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 transaction, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,470 shares of company stock worth $3,841,921. 24.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after buying an additional 57,713 shares in the last quarter. Intech Investment Management LLC bought a new stake in Braze during the third quarter worth approximately $673,000. Proficio Capital Partners LLC acquired a new stake in Braze in the fourth quarter worth approximately $498,000. Holocene Advisors LP boosted its stake in 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 purchasing an additional 29,123 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 purchasing an additional 229,660 shares during the period. 90.47% of the stock is 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.