Braze (NASDAQ:BRZE) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Braze (NASDAQ:BRZE) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $37.00 price objective on the stock.

BRZE has been the subject of several other research reports. Loop Capital restated a “buy” rating and issued a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Braze in a research report on Tuesday, September 24th. DA Davidson reduced their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research report on Tuesday, September 24th. Nineteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $57.33.

Braze Price Performance

BRZE stock opened at $30.78 on Tuesday. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The firm has a market cap of $3.13 billion, a PE ratio of -24.05 and a beta of 1.03. The firm has a 50 day simple moving average of $36.09 and a 200 day simple moving average of $38.49.

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

Insider Activity

In related 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 transaction of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fernando Machado sold 1,377 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now owns 8,937 shares in the company, valued at $273,919.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,658 shares of company stock worth $9,002,766. Company insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BRZE. Goldman Sachs Group Inc. lifted its stake in shares of Braze by 21.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock valued at $19,973,000 after purchasing an additional 65,973 shares during the period. Vanguard Group Inc. raised its stake in Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after buying an additional 480,179 shares during the period. Harbour Capital Advisors LLC raised its stake in Braze by 10.2% during the 1st quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock worth $561,000 after buying an additional 1,205 shares during the period. Diversified Trust Co raised its stake in Braze by 28.1% during the 1st quarter. Diversified Trust Co now owns 20,728 shares of the company’s stock worth $918,000 after buying an additional 4,551 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Braze by 0.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock worth $13,406,000 after buying an additional 984 shares during the period. Institutional investors and hedge funds 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.