Braze (NASDAQ:BRZE) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Braze (NASDAQ:BRZE) in a research note released on Tuesday, Benzinga reports. Needham & Company LLC currently has a $70.00 target price on the stock.

A number of other brokerages have also weighed in on BRZE. Scotiabank raised Braze from a sector perform rating to a sector outperform rating and lifted their target price for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Piper Sandler reaffirmed an overweight rating and set a $51.00 target price on shares of Braze in a research report on Friday, September 6th. BTIG Research decreased their target price on Braze from $68.00 to $62.00 and set a buy rating for the company in a research report on Friday, May 31st. Citigroup lifted their target price on Braze from $52.00 to $58.00 and gave the company a buy rating in a research report on Friday, June 7th. Finally, JMP Securities reaffirmed a market outperform rating and set a $68.00 target price on shares of Braze in a research report on Friday, September 6th. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Braze presently has a consensus rating of Buy and a consensus target price of $59.18.

Braze Stock Performance

Shares of BRZE stock opened at $32.78 on Tuesday. Braze has a 52-week low of $31.80 and a 52-week high of $61.53. The firm has a market capitalization of $3.33 billion, a P/E ratio of -25.61 and a beta of 1.07. The stock has a 50 day moving average price of $39.87 and a 200 day moving average price of $40.96.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same period last year, the company earned ($0.30) EPS. Braze’s quarterly revenue was up 26.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Braze will post -1.02 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 3,558 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $38.41, for a total transaction of $136,662.78. Following the transaction, the general counsel now directly owns 221,840 shares in the company, valued at approximately $8,520,874.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, General Counsel Susan Wiseman sold 3,558 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $38.41, for a total transaction of $136,662.78. Following the transaction, the general counsel now directly owns 221,840 shares in the company, valued at approximately $8,520,874.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Pankaj Malik sold 1,381 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total value of $56,786.72. Following the transaction, the chief accounting officer now owns 72,980 shares in the company, valued at $3,000,937.60. The disclosure for this sale can be found here. Insiders have sold a total of 186,465 shares of company stock worth $8,054,420 in the last ninety days. 24.03% of the stock is owned by insiders.

Institutional Trading of Braze

Several large investors have recently added to or reduced their stakes in BRZE. Principal Financial Group Inc. grew its stake in Braze by 24.9% during the 4th quarter. Principal Financial Group Inc. now owns 116,989 shares of the company’s stock valued at $6,216,000 after purchasing an additional 23,322 shares during the last quarter. Norges Bank acquired a new position in Braze in the 4th quarter worth about $37,584,000. Assetmark Inc. acquired a new position in Braze in the 4th quarter worth about $580,000. US Bancorp DE raised its holdings in Braze by 2,518.1% in the 4th quarter. US Bancorp DE now owns 11,729 shares of the company’s stock worth $623,000 after purchasing an additional 11,281 shares during the period. Finally, Orion Portfolio Solutions LLC acquired a new position in Braze in the 4th quarter worth about $759,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.