Braze (NASDAQ:BRZE) Shares Gap Up to $37.92

Braze, Inc. (NASDAQ:BRZE)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $37.92, but opened at $39.33. Braze shares last traded at $39.01, with a volume of 52,774 shares trading hands.

Analyst Ratings Changes

Several research firms have commented on BRZE. BTIG Research lowered their price target on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 31st. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $48.00 to $56.00 in a report on Wednesday. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Thursday, March 21st. DA Davidson reiterated a “buy” rating and issued a $65.00 price target on shares of Braze in a research note on Monday, March 25th. Finally, Piper Sandler reduced their price objective on shares of Braze from $66.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, June 7th. Seventeen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze currently has an average rating of “Buy” and a consensus price target of $61.38.

Braze Stock Up 1.9 %

The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -29.63 and a beta of 1.06. The company has a fifty day moving average of $38.98 and a two-hundred day moving average of $46.75.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. The business had revenue of $135.46 million for the quarter, compared to analyst estimates of $131.56 million. Equities analysts anticipate that Braze, Inc. will post -1.21 earnings per share for the current fiscal year.

Insider Transactions at Braze

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the transaction, the chief financial officer now directly owns 242,627 shares in the company, valued at $9,477,010.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the sale, the chief financial officer now owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Magnuson sold 17,839 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the completion of the transaction, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at $25,835,868. The disclosure for this sale can be found here. Insiders have sold a total of 79,394 shares of company stock valued at $3,295,036 in the last ninety days. 24.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently made changes to their positions in the business. Neo Ivy Capital Management acquired a new position in Braze during the fourth quarter worth about $40,000. Covestor Ltd raised its holdings in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of Braze in the fourth quarter valued at $42,000. Comerica Bank boosted its stake in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares during the last quarter. Finally, RiverPark Advisors LLC increased its position in Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.