Braze (NASDAQ:BRZE) Stock Rating Reaffirmed by DA Davidson

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a research report issued on Friday, Benzinga reports. They presently have a $65.00 price target on the stock. DA Davidson’s target price would suggest a potential upside of 82.28% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Braze in a report on Wednesday, June 12th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $48.00 to $56.00 in a research note on Wednesday, July 10th. Citigroup upped their target price on shares of Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Raymond James dropped their price objective on shares of Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, June 7th. Finally, TD Cowen dropped their price objective on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Seventeen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $60.50.

Braze Stock Down 19.2 %

BRZE stock traded down $8.47 during trading hours on Friday, hitting $35.66. The company’s stock had a trading volume of 2,403,067 shares, compared to its average volume of 939,387. The company has a market capitalization of $3.62 billion, a PE ratio of -27.86 and a beta of 1.07. Braze has a 12 month low of $33.93 and a 12 month high of $61.53. The stock has a 50 day moving average price of $41.27 and a two-hundred day moving average price of $43.17.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. Sell-side analysts expect that Braze will post -1.21 earnings per share for the current year.

Insider Activity

In related news, CAO Pankaj Malik sold 2,618 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $35.23, for a total value of $92,232.14. Following the sale, the chief accounting officer now directly owns 76,623 shares in the company, valued at approximately $2,699,428.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Braze news, CAO Pankaj Malik sold 2,618 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $35.23, for a total transaction of $92,232.14. Following the sale, the chief accounting officer now directly owns 76,623 shares in the company, valued at approximately $2,699,428.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the sale, the chief financial officer now owns 242,627 shares in the company, valued at $9,477,010.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 187,898 shares of company stock valued at $8,081,257. 24.03% of the stock is currently owned by insiders.

Institutional Trading of Braze

Hedge funds have recently bought and sold shares of the stock. AGF Management Ltd. acquired a new stake in shares of Braze in the fourth quarter valued at approximately $3,282,000. M&G Plc acquired a new stake in shares of Braze in the first quarter valued at approximately $6,724,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Braze in the fourth quarter valued at approximately $5,397,000. Vanguard Group Inc. raised its holdings in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC acquired a new stake in shares of Braze in the first quarter valued at approximately $5,714,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.