Brokerages Set Braze, Inc. (NASDAQ:BRZE) Target Price at $53.00

Shares of Braze, Inc. (NASDAQ:BRZE) have earned an average recommendation of “Buy” from the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $53.00.

Several equities analysts have recently weighed in on BRZE shares. Stifel Nicolaus set a $50.00 price target on Braze and gave the company a “buy” rating in a report on Friday, March 28th. Canaccord Genuity Group raised their target price on Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. DA Davidson reaffirmed a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Wednesday, March 26th. Piper Sandler raised their price objective on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Raymond James upped their target price on shares of Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, March 28th.

Braze Stock Performance

NASDAQ BRZE opened at $36.30 on Monday. Braze has a one year low of $29.18 and a one year high of $48.33. The stock has a 50-day moving average of $39.16 and a 200 day moving average of $38.04. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -31.84 and a beta of 1.17.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, equities analysts predict that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the sale, the chief executive officer now directly owns 564,766 shares in the company, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jonathan Hyman sold 5,210 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $212,672.20. Following the transaction, the chief technology officer now directly owns 157,810 shares of the company’s stock, valued at approximately $6,441,804.20. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,970 shares of company stock worth $3,904,111 over the last quarter. Insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several large investors have recently bought and sold shares of BRZE. Tower Research Capital LLC TRC grew its stake in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after buying an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after acquiring an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Braze during the fourth quarter valued at approximately $47,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Braze in the 4th quarter valued at approximately $115,000. Institutional investors own 90.47% of the company’s stock.

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.