Loop Capital Reaffirms Buy Rating for Braze (NASDAQ:BRZE)

Loop Capital restated their buy rating on shares of Braze (NASDAQ:BRZE) in a report released on Tuesday morning, Benzinga reports. Loop Capital currently has a $75.00 target price on the stock.

A number of other equities research analysts have also issued reports on the stock. JMP Securities reissued a market outperform rating and set a $68.00 target price on shares of Braze in a research note on Friday, September 6th. Scotiabank upgraded shares of Braze from a sector perform rating to a sector outperform rating and lifted their target price for the stock from $48.00 to $56.00 in a report on Wednesday, July 10th. Needham & Company LLC restated a buy rating and set a $70.00 price objective on shares of Braze in a report on Tuesday. TD Cowen dropped their price objective on shares of Braze from $65.00 to $52.00 and set a buy rating on the stock in a report on Friday, May 31st. Finally, Barclays lowered their target price on shares of Braze from $80.00 to $70.00 and set an overweight rating on the stock in a research note on Monday, August 26th. Eighteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $59.18.

Braze Stock Performance

Braze stock opened at $32.78 on Tuesday. The company has a 50 day moving average price of $39.87 and a 200 day moving average price of $40.96. Braze has a 52 week low of $31.80 and a 52 week high of $61.53. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -25.61 and a beta of 1.07.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. Equities analysts forecast that Braze will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Braze news, CEO William Magnuson sold 17,840 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $738,040.80. Following the completion of the sale, the chief executive officer now owns 600,749 shares of the company’s stock, valued at $24,852,986.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Myles Kleeger sold 50,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the completion of the sale, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Magnuson sold 17,840 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 600,749 shares of the company’s stock, valued at approximately $24,852,986.13. The disclosure for this sale can be found here. Insiders sold a total of 186,465 shares of company stock valued at $8,054,420 over the last ninety days. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in Braze during the second quarter worth $10,166,000. Quarry LP acquired a new stake in shares of Braze during the 2nd quarter worth about $50,000. Creative Planning lifted its stake in shares of Braze by 1.7% during the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after buying an additional 384 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Braze during the 2nd quarter worth about $2,376,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Braze during the 2nd quarter worth about $971,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

About Braze

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.