Braze, Inc. (NASDAQ:BRZE – Get Free Report)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $51.74 and last traded at $51.21, with a volume of 36615 shares trading hands. The stock had previously closed at $51.09.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Citigroup assumed coverage on Braze in a report on Tuesday, September 5th. They set a “buy” rating and a $60.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Braze in a research report on Wednesday, October 18th. TD Cowen upped their price objective on shares of Braze from $45.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Barclays increased their price objective on shares of Braze from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Finally, JPMorgan Chase & Co. boosted their target price on Braze from $45.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, September 8th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.
Braze Stock Down 0.5 %
Braze (NASDAQ:BRZE – Get Free Report) last posted its quarterly earnings results on Thursday, September 7th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.09. Braze had a negative net margin of 33.51% and a negative return on equity of 29.85%. The company had revenue of $115.11 million during the quarter, compared to analysts’ expectations of $108.47 million. As a group, equities analysts forecast that Braze, Inc. will post -1.39 earnings per share for the current fiscal year.
Insider Activity at Braze
In other news, CTO Jonathan Hyman sold 6,100 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $50.50, for a total value of $308,050.00. Following the transaction, the chief technology officer now owns 129,830 shares in the company, valued at approximately $6,556,415. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Jonathan Hyman sold 6,100 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $50.50, for a total transaction of $308,050.00. Following the completion of the sale, the chief technology officer now owns 129,830 shares in the company, valued at approximately $6,556,415. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Isabelle Winkles sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $42.29, for a total transaction of $211,450.00. Following the completion of the transaction, the chief financial officer now directly owns 213,542 shares in the company, valued at $9,030,691.18. The disclosure for this sale can be found here. Insiders have sold 267,782 shares of company stock valued at $12,786,013 over the last quarter. 26.48% of the stock is owned by insiders.
Institutional Trading of Braze
Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in Braze by 19.8% during the second quarter. Parallel Advisors LLC now owns 1,575 shares of the company’s stock worth $69,000 after buying an additional 260 shares during the period. HighTower Advisors LLC grew its position in shares of Braze by 6.6% during the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock worth $256,000 after acquiring an additional 335 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Braze by 4.3% in the 4th quarter. Legal & General Group Plc now owns 8,303 shares of the company’s stock valued at $227,000 after acquiring an additional 340 shares during the period. Ieq Capital LLC raised its position in Braze by 7.0% in the 2nd quarter. Ieq Capital LLC now owns 7,915 shares of the company’s stock valued at $347,000 after purchasing an additional 518 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Braze by 4.6% during the 3rd quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock worth $552,000 after purchasing an additional 524 shares during the period. 49.47% of the stock is owned by hedge funds and other institutional investors.
Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.
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