Cantor Fitzgerald Begins Coverage on Braze (NASDAQ:BRZE)

Analysts at Cantor Fitzgerald assumed coverage on shares of Braze (NASDAQ:BRZE) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $45.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 22.92% from the stock’s current price.

Several other research firms have also commented on BRZE. Raymond James boosted their price objective on shares of Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, March 28th. Citigroup boosted their price objective on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Canaccord Genuity Group boosted their price objective on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Wells Fargo & Company reduced their price objective on shares of Braze from $55.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Stephens assumed coverage on shares of Braze in a research note on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Braze currently has a consensus rating of “Buy” and a consensus price target of $49.25.

Braze Stock Up 1.0%

NASDAQ BRZE opened at $36.61 on Tuesday. The firm has a market cap of $3.83 billion, a PE ratio of -32.11 and a beta of 1.15. The company has a 50 day moving average price of $32.91 and a 200 day moving average price of $38.00. Braze has a 52 week low of $27.45 and a 52 week high of $48.33.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. The firm had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. Braze’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. On average, equities research analysts anticipate that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 3,405 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $122,171.40. Following the sale, the chief accounting officer now directly owns 69,274 shares of the company’s stock, valued at approximately $2,485,551.12. This represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Astha Malik sold 13,460 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $482,944.80. Following the sale, the insider now directly owns 258,395 shares in the company, valued at $9,271,212.60. This trade represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,150 shares of company stock valued at $2,540,814. Corporate insiders own 18.20% of the company’s stock.

Institutional Trading of Braze

A number of hedge funds have recently added to or reduced their stakes in BRZE. Rhumbline Advisers lifted its holdings in Braze by 6.3% during the first quarter. Rhumbline Advisers now owns 93,189 shares of the company’s stock valued at $3,362,000 after purchasing an additional 5,532 shares in the last quarter. Strs Ohio purchased a new position in Braze during the first quarter valued at $220,000. Intech Investment Management LLC lifted its holdings in Braze by 18.8% during the first quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock valued at $1,453,000 after purchasing an additional 6,379 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Braze during the first quarter valued at $691,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Braze by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock valued at $1,415,000 after purchasing an additional 1,700 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.