Oppenheimer Reiterates “Outperform” Rating for Braze (NASDAQ:BRZE)

Braze (NASDAQ:BRZEGet Free Report)‘s stock had its “outperform” rating reissued by research analysts at Oppenheimer in a report released on Wednesday, Benzinga reports. They currently have a $60.00 target price on the stock. Oppenheimer’s price target points to a potential upside of 66.57% from the stock’s current price.

Several other brokerages also recently weighed in on BRZE. JPMorgan Chase & Co. decreased their target price on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, March 28th. BTIG Research decreased their target price on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, May 31st. UBS Group raised Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Thursday, March 21st. JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Friday, June 7th. Finally, Scotiabank reduced their price target on Braze from $58.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

Read Our Latest Report on BRZE

Braze Price Performance

Shares of NASDAQ:BRZE opened at $36.02 on Wednesday. The firm has a market capitalization of $3.63 billion, a PE ratio of -28.71 and a beta of 1.06. The business has a 50-day moving average of $40.65 and a two-hundred day moving average of $49.11. Braze has a 12 month low of $35.47 and a 12 month high of $61.53.

Braze (NASDAQ:BRZEGet Free Report) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.01. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The company had revenue of $135.46 million during the quarter, compared to analyst estimates of $131.56 million. As a group, research analysts anticipate that Braze will post -1.18 earnings per share for the current year.

Insider Transactions at Braze

In other news, Director Fernando Machado sold 2,361 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $42.46, for a total transaction of $100,248.06. Following the sale, the director now directly owns 6,101 shares in the company, valued at approximately $259,048.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William Magnuson sold 17,839 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.76, for a total value of $744,956.64. Following the sale, the chief executive officer now directly owns 618,675 shares in the company, valued at approximately $25,835,868. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Fernando Machado sold 2,361 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the sale, the director now owns 6,101 shares in the company, valued at $259,048.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,614 shares of company stock worth $3,268,017. 24.03% of the stock is currently owned by company insiders.

Institutional Trading of Braze

Large investors have recently added to or reduced their stakes in the business. Comerica Bank boosted its stake in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Braze by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after acquiring an additional 290 shares in the last quarter. American International Group Inc. boosted its stake in shares of Braze by 1.2% during the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after acquiring an additional 310 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Braze by 6.6% during the 3rd quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock worth $256,000 after acquiring an additional 335 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Braze by 2.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,831 shares of the company’s stock worth $1,266,000 after acquiring an additional 588 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

About Braze

(Get Free Report)

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.

See Also

Analyst Recommendations for Braze (NASDAQ:BRZE)

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