JMP Securities Reiterates “Market Outperform” Rating for Braze (NASDAQ:BRZE)

JMP Securities reissued their market outperform rating on shares of Braze (NASDAQ:BRZE) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $68.00 price objective on the stock.

BRZE has been the topic of several other research reports. Citigroup raised their price objective on Braze from $52.00 to $58.00 and gave the stock a buy rating in a report on Friday, June 7th. DA Davidson reissued a buy rating and issued a $65.00 price target on shares of Braze in a research note on Friday, September 6th. Piper Sandler reaffirmed an overweight rating and set a $51.00 price objective on shares of Braze in a research note on Friday, September 6th. Raymond James cut their price objective on shares of Braze from $65.00 to $55.00 and set an outperform rating on the stock in a report on Friday, June 7th. Finally, TD Cowen lowered their target price on shares of Braze from $65.00 to $52.00 and set a buy rating for the company in a report on Friday, May 31st. Eighteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $59.18.

Braze Trading Up 1.3 %

Braze stock opened at $33.22 on Tuesday. The stock has a 50-day moving average price of $39.73 and a 200 day moving average price of $40.82. Braze has a 52 week low of $31.80 and a 52 week high of $61.53. The stock has a market cap of $3.38 billion, a PE ratio of -25.95 and a beta of 1.07.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share 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 business had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The company’s revenue was up 26.4% on a year-over-year basis. On average, equities analysts predict that Braze will post -1.02 EPS for the current year.

Insider Activity

In other news, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,104,920. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Braze news, CEO William Magnuson sold 17,840 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $738,040.80. Following the completion of the sale, the chief executive officer now owns 600,749 shares in the company, valued at approximately $24,852,986.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 3,447 shares of Braze 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 owns 206,930 shares in the company, valued at $9,104,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,465 shares of company stock worth $8,054,420. 24.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

Hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new stake in Braze in the second quarter valued at $10,166,000. Quarry LP bought a new stake in shares of Braze in the 2nd quarter worth about $50,000. Creative Planning increased its position in shares of Braze by 1.7% in the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after purchasing an additional 384 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Braze in the 2nd quarter valued at about $2,376,000. Finally, Mackenzie Financial Corp bought a new position in shares of Braze during the second quarter worth about $971,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.