Brokerages Set Braze, Inc. (NASDAQ:BRZE) Price Target at $60.88

Shares of Braze, Inc. (NASDAQ:BRZE) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $60.88.

A number of analysts have commented on the company. Wells Fargo & Company decreased their target price on Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Citigroup upped their price objective on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, June 7th. TD Cowen reduced their price objective on Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Raymond James reduced their price objective on Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, June 7th. Finally, BTIG Research reduced their price objective on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 31st.

Insiders Place Their Bets

In other Braze news, Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $42.46, for a total transaction of $100,248.06. Following the completion of the sale, the director now directly owns 6,101 shares in the company, valued at $259,048.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Pankaj Malik sold 2,618 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $35.23, for a total value of $92,232.14. Following the completion of the sale, the chief accounting officer now owns 76,623 shares in the company, valued at $2,699,428.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Fernando Machado sold 2,361 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the sale, the director now owns 6,101 shares of the company’s stock, valued at approximately $259,048.46. The disclosure for this sale can be found here. Insiders sold 74,894 shares of company stock worth $3,119,266 over the last three months. 24.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Braze

Large investors have recently modified their holdings of the stock. Fred Alger Management LLC acquired a new stake in shares of Braze in the third quarter valued at about $29,000. Neo Ivy Capital Management acquired a new stake in shares of Braze in the fourth quarter valued at about $40,000. Covestor Ltd grew its stake in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after buying an additional 738 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of Braze in the fourth quarter valued at about $42,000. Finally, Comerica Bank grew its stake in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Stock Performance

BRZE opened at $39.54 on Friday. The business’s fifty day moving average is $39.23 and its two-hundred day moving average is $47.20. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -30.89 and a beta of 1.06. Braze has a one year low of $33.93 and a one year high of $61.53.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. The company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. On average, analysts predict that Braze will post -1.21 EPS for the current fiscal year.

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.