Braze (NASDAQ:BRZE) Upgraded by Macquarie to “Hold” Rating

Macquarie upgraded shares of Braze (NASDAQ:BRZE) to a hold rating in a research report released on Wednesday, Zacks.com reports.

BRZE has been the topic of several other research reports. Barclays lowered their price target on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Loop Capital reaffirmed a “buy” rating and issued a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. DA Davidson lowered their price target on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Oppenheimer lowered their price target on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Finally, Stifel Nicolaus began coverage on Braze in a report on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.32.

Braze Price Performance

Shares of BRZE opened at $31.46 on Wednesday. The stock’s 50-day simple moving average is $35.13 and its 200 day simple moving average is $38.14. Braze has a 52-week low of $29.18 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data 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. The business had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.30) EPS. Sell-side analysts anticipate that Braze will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the transaction, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 8,207 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $339,523.59. Following the completion of the sale, the chief financial officer now owns 234,420 shares of the company’s stock, valued at approximately $9,697,955.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,658 shares of company stock worth $7,980,396 in the last ninety days. 24.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Braze

Several institutional investors and hedge funds have recently bought and sold shares of the business. M&G PLC lifted its holdings in Braze by 53.1% in the 3rd quarter. M&G PLC now owns 262,963 shares of the company’s stock worth $8,415,000 after buying an additional 91,161 shares during the period. Amalgamated Bank raised its stake in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Braze by 9.0% in the third quarter. Harbor Capital Advisors Inc. now owns 10,482 shares of the company’s stock worth $339,000 after acquiring an additional 866 shares in the last quarter. Stephens Investment Management Group LLC bought a new stake in Braze in the third quarter worth $20,794,000. Finally, US Bancorp DE boosted its holdings in Braze by 38.1% in the third quarter. US Bancorp DE now owns 25,737 shares of the company’s stock worth $832,000 after acquiring an additional 7,103 shares in the last quarter. 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.