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

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $50.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 36.24% from the stock’s current price.

BRZE has been the topic of a number of other research reports. Piper Sandler upped their target price on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Macquarie upped 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. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Wells Fargo & Company reissued an “overweight” rating on shares of Braze in a research note on Friday. Finally, Stifel Nicolaus set a $50.00 price target on shares of Braze in a research note on Friday. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $52.40.

Braze Stock Down 1.7 %

NASDAQ BRZE opened at $36.70 on Friday. Braze has a 52 week low of $29.18 and a 52 week high of $48.33. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -32.19 and a beta of 1.17. The company has a fifty day moving average of $39.80 and a two-hundred day moving average of $37.97.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) EPS. Equities research analysts anticipate that Braze will post -0.98 EPS for the current year.

Insider Activity at Braze

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the transaction, the general counsel now owns 182,109 shares in the company, valued at approximately $7,288,002.18. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 10,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.43, for a total transaction of $454,300.00. Following the completion of the transaction, the insider now directly owns 184,396 shares of the company’s stock, valued at approximately $8,377,110.28. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock valued at $3,841,921 in the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BRZE. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Braze by 14.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,083 shares of the company’s stock worth $811,000 after buying an additional 3,180 shares during the period. Intech Investment Management LLC acquired a new position in Braze during the third quarter valued at $673,000. Charles Schwab Investment Management Inc. lifted its position in Braze by 12.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after purchasing an additional 57,713 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Braze by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 36,344 shares of the company’s stock valued at $1,175,000 after purchasing an additional 1,751 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Braze by 393.1% during the 3rd quarter. FMR LLC now owns 11,829 shares of the company’s stock valued at $383,000 after buying an additional 9,430 shares during 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.