Braze’s (BRZE) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Braze (NASDAQ:BRZE) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a $70.00 price target on the stock.

Several other brokerages have also issued reports on BRZE. DA Davidson restated a buy rating and set a $65.00 target price on shares of Braze in a research report on Friday, September 6th. JMP Securities restated a market outperform rating and issued a $68.00 target price on shares of Braze in a research note on Friday, September 6th. Piper Sandler reaffirmed an overweight rating and set a $51.00 price target on shares of Braze in a research note on Friday, September 6th. Raymond James lowered their price target on Braze from $65.00 to $55.00 and set an outperform rating for the company in a report on Friday, June 7th. Finally, Barclays decreased their price objective on Braze from $80.00 to $70.00 and set an overweight rating for the company in a report on Monday, August 26th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Braze has an average rating of Buy and an average price target of $59.18.

Braze Stock Performance

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

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (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 for the quarter, compared to the consensus estimate of $141.32 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. Braze’s revenue was up 26.4% on a year-over-year basis. On average, equities research analysts forecast that Braze will post -1.02 earnings per share for the current year.

Insider Buying and Selling at Braze

In other news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the completion of the transaction, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $44.00, for a total value of $151,668.00. Following the sale, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,104,920. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the company’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 value of $175,770.00. Following the transaction, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,465 shares of company stock valued at $8,054,420. 24.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Braze

A number of large investors have recently added to or reduced their stakes in the stock. Comerica Bank increased 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 worth $54,000 after purchasing an additional 276 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Braze by 2.2% during the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after acquiring an additional 283 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Braze by 17.8% in the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after acquiring an additional 290 shares in the last quarter. American International Group Inc. increased its position in shares of Braze by 1.2% during the first quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after purchasing an additional 310 shares in the last quarter. Finally, Creative Planning raised its stake in Braze by 1.7% in the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after purchasing an additional 384 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.