Braze (NASDAQ:BRZE) Price Target Raised to $55.00

Braze (NASDAQ:BRZE) had its target price raised by stock analysts at Citigroup from $50.00 to $55.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 44.05% from the company’s current price.

BRZE has been the topic of a number of other research reports. Stephens assumed coverage on shares of Braze in a report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price target on the stock. Raymond James lifted their target price on Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday. Macquarie increased their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Braze in a research report on Friday. Finally, Canaccord Genuity Group raised their price target on Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $53.00.

Braze Trading Up 4.0 %

NASDAQ BRZE traded up $1.48 during trading on Friday, hitting $38.18. The company had a trading volume of 3,364,875 shares, compared to its average volume of 1,216,912. Braze has a one year low of $29.18 and a one year high of $48.33. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -33.44 and a beta of 1.17. The company’s fifty day moving average is $39.80 and its 200-day moving average is $37.97.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company’s revenue was up 22.4% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. As a group, equities analysts anticipate that Braze will post -0.98 EPS for the current year.

Insider Transactions at Braze

In other news, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the sale, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 14,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $45.52, for a total transaction of $637,280.00. Following the completion of the transaction, the general counsel now directly owns 199,520 shares of the company’s stock, valued at $9,082,150.40. The trade was a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock valued at $3,841,921 in the last quarter. 24.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Braze

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Braze by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after purchasing an additional 57,713 shares during the period. Intech Investment Management LLC purchased a new position in shares of Braze in the 3rd quarter valued at about $673,000. Proficio Capital Partners LLC acquired a new position in shares of Braze during the fourth quarter worth about $498,000. Holocene Advisors LP raised its holdings in Braze by 52.7% in the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after acquiring an additional 29,123 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.