Braze’s (BRZE) Buy Rating Reaffirmed at BTIG Research

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research note issued to investors on Thursday, Benzinga reports. They presently have a $35.00 target price on the stock. BTIG Research’s price objective suggests a potential upside of 31.85% from the company’s current price.

Other equities analysts have also issued reports about the company. Raymond James Financial lifted their price objective on Braze from $27.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. JPMorgan Chase & Co. cut their price target on Braze from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Canaccord Genuity Group boosted their price objective on Braze from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Oppenheimer boosted their price objective on Braze from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $38.00 price objective on shares of Braze in a report on Wednesday, September 9th. Nineteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.21.

Braze Stock Performance

Braze stock traded down $0.07 during mid-day trading on Thursday, hitting $26.55. 66,271 shares of the company’s stock traded hands, compared to its average volume of 2,893,941. Braze has a fifty-two week low of $15.26 and a fifty-two week high of $37.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -25.68 and a beta of 0.91. The firm has a 50 day simple moving average of $27.73 and a two-hundred day simple moving average of $24.36.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Braze had a negative return on equity of 16.11% and a negative net margin of 13.55%.The company had revenue of $227.23 million for the quarter, compared to analysts’ expectations of $220.27 million. During the same quarter last year, the business earned $0.15 earnings per share. Braze’s revenue was up 26.2% on a year-over-year basis. Braze has set its FY 2027 guidance at 0.640-0.650 EPS and its Q3 2027 guidance at 0.130-0.140 EPS. On average, research analysts expect that Braze will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Edward M. Mcdonnell sold 29,732 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.38, for a total transaction of $932,990.16. Following the sale, the executive owned 409,630 shares of the company’s stock, valued at approximately $12,854,189.40. This represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Astha Malik sold 15,724 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $29.57, for a total value of $464,958.68. Following the completion of the sale, the insider directly owned 326,233 shares in the company, valued at approximately $9,646,709.81. The trade was a 4.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 203,568 shares of company stock valued at $6,096,461. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Braze

Large investors have recently modified their holdings of the company. Westfield Capital Management Co. LP raised its holdings in shares of Braze by 0.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,187,275 shares of the company’s stock valued at $75,002,000 after buying an additional 9,322 shares in the last quarter. Geode Capital Management LLC grew its position in Braze by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 2,082,739 shares of the company’s stock worth $71,430,000 after acquiring an additional 84,365 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Braze by 30.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,885,577 shares of the company’s stock worth $44,518,000 after acquiring an additional 439,513 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Braze by 11.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,370,986 shares of the company’s stock worth $32,369,000 after acquiring an additional 137,843 shares during the last quarter. Finally, Kettle Hill Capital Management LLC bought a new position in Braze during the 4th quarter worth approximately $25,639,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Company Profile

Braze, Inc is a customer engagement software company that helps businesses build and manage personalized interactions with consumers. Its cloud-based platform enables organizations to collect and analyze customer data, create audience segments, and deliver marketing messages across multiple channels.

The Braze platform supports communication through mobile and web applications, email, SMS, messaging services, and other digital channels. Its offerings include campaign orchestration, customer journey management, in-app and browser messaging, personalization, analytics, experimentation, and artificial intelligence tools designed to help companies improve customer retention and engagement.

The company was founded in 2011 as Appboy by Bill Magnuson, Mark Ghermezian, and Jon Hyman, and later adopted the Braze name.