Braze (NASDAQ:BRZE) Rating Reiterated by Loop Capital

Loop Capital reiterated their buy rating on shares of Braze (NASDAQ:BRZE) in a research note issued to investors on Tuesday, Benzinga reports. Loop Capital currently has a $75.00 price objective on the stock.

A number of other brokerages have also commented on BRZE. BTIG Research decreased their price objective on Braze from $68.00 to $62.00 and set a buy rating on the stock in a report on Friday, May 31st. Oppenheimer reissued an outperform rating and set a $60.00 price target on shares of Braze in a research report on Wednesday, June 12th. Raymond James cut their target price on Braze from $65.00 to $55.00 and set an outperform rating for the company in a research report on Friday, June 7th. Barclays decreased their price target on Braze from $80.00 to $70.00 and set an overweight rating on the stock in a research report on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $70.00 price objective on shares of Braze in a research report on Tuesday. Eighteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $59.18.

Braze Price Performance

Shares of NASDAQ BRZE opened at $33.22 on Tuesday. Braze has a fifty-two week low of $31.80 and a fifty-two week high of $61.53. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -25.95 and a beta of 1.07. The business has a 50-day moving average of $39.73 and a 200-day moving average of $40.82.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same quarter last year, the firm posted ($0.30) EPS. The company’s quarterly revenue was up 26.4% on a year-over-year basis. On average, sell-side analysts expect that Braze will post -1.02 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 3,447 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the transaction, the general counsel now directly owns 206,930 shares in the company, valued at $9,104,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the sale, the general counsel now owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Myles Kleeger sold 9,178 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $379,693.86. Following the completion of the transaction, the insider now owns 206,340 shares in the company, valued at approximately $8,536,285.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,465 shares of company stock valued at $8,054,420. Company insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Braze by 24.9% during the fourth quarter. Principal Financial Group Inc. now owns 116,989 shares of the company’s stock valued at $6,216,000 after acquiring an additional 23,322 shares in the last quarter. Norges Bank bought a new stake in shares of Braze in the 4th quarter worth $37,584,000. Assetmark Inc. purchased a new position in shares of Braze in the fourth quarter worth $580,000. US Bancorp DE lifted its holdings in shares of Braze by 2,518.1% during the fourth quarter. US Bancorp DE now owns 11,729 shares of the company’s stock valued at $623,000 after purchasing an additional 11,281 shares in the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Braze during the fourth quarter valued at $759,000. Hedge funds and other 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.