Braze (NASDAQ:BRZE – Get a Rating) saw its price target raised by Raymond James from $40.00 to $50.00 in a report on Tuesday, reports The Fly. Raymond James’ target price indicates a potential upside of 14.73% from the company’s previous close.
Other stock analysts have also recently released reports on the company. UBS Group began covering Braze in a research note on Tuesday, July 12. They issued a “buy” rating and a price target of $53.00 on the stock. Loop Capital cut its price target on Braze from $75.00 to $50.00 and placed a “buy” rating on the stock in a Wednesday, June 15 research note. Goldman Sachs Group lowered its price target on Braze from $65.00 to $56.00 and placed a “buy” rating on the stock in a Wednesday, June 15 research note. JMP Securities cut its price target on Braze from $75.00 to $52.00 and gave the stock a “market outperformance” rating in a Tuesday, June 14 research note. Finally, Oppenheimer raised his target price on Braze from $37.00 to $48.00 in a research note on Tuesday. Sixteen equity research analysts rated the stock with a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $54.53.
Brazing Price Performance
NASDAQ BRZE shares opened at $43.58 on Tuesday. Braze has a 1-year low of $27.09 and a 1-year high of $98.78. The stock’s 50-day moving average is $44.26 and its 200-day moving average is $39.84.
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Braze (NASDAQ:BRZE – Get Rating) last announced its quarterly results on Monday, September 12. The company reported ($0.16) EPS for the quarter, beating analyst consensus estimates of ($0.20) by $0.04. The company posted revenue of $86.13 million in the quarter, compared to $81.16 million expected by analysts. The company’s quarterly revenue increased 54.5% year over year. Equity research analysts expect Braze to post -1.5 earnings per share for the current year.
Insider activity at Braze
Separately, CTO Jonathan Hyman sold 43,500 shares in a trade on Thursday, June 16. The stock was sold at an average price of $32.59, for a total transaction of $1,417,665.00. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. In other news, insider Myles Kleeger sold 10,000 shares of the company in a trade dated Thursday, June 16. The stock was sold at an average price of $32.58, for a total value of $325,800.00. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CTO Jonathan Hyman sold 43,500 shares of the company in a trade dated Thursday, June 16. The stock was sold at an average price of $32.59, for a total value of $1,417,665.00. The disclosure of this sale can be found here. Insiders sold 219,348 shares of the company valued at $8,914,916 in the past ninety days. Insiders hold 32.14% of the shares of the company.
Institutional entries and exits
Several institutional investors have recently changed their positions in BRZE. ICONIQ Capital LLC increased its stake in Braze stock by 134.2% in the first quarter. ICONIQ Capital LLC now owns 7,206,133 shares of the company worth $298,839,000 after purchasing an additional 4,128,680 shares during the period. Interwest Venture Management Co. acquired a new stake in Braze during Q1 valued at approximately $140,758,000. Sapphire Ventures LLC acquired a new stake in Braze during Q4, valued at approximately $134,674,000. Spark Growth Management Partners II LLC acquired a new stake in Braze during Q1 valued at approximately $55,888,000. Finally, Alliancebernstein LP acquired a new stake in Braze during Q4 valued at approximately $68,082,000. Institutional investors hold 39.38% of the company’s shares.
Braze Company Profile
(Get a rating)
Braze, Inc operates a customer engagement platform that enables interactions between consumers and brands around the world. It offers data ingestion products, such as Braze SDKs that automatically handle data ingestion and delivery of mobile and web notifications, in-app/in-browser interstitial messages, and maps content, and can also be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands’ existing technology stacks; and Partner Cohort Sync, which allows brands to sync partner user cohorts.
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