Is Braze Inc (NASDAQ: BRZE) Proving The Doubters Wrong?

Morgan Stanley & Co. LLC has recently announced that it has increased stake in Braze Inc (NASDAQ:BRZE) by 20.29%. After grabbing 5.27 million shares, the institutional investor is now in possession of 0.89 million shares of the Technology Company. The new investment brought the stake of investor firm to 7.84% having worth around $224.41 million. Moreover, The Vanguard Group, Inc. increased its share by 0.18 million to have a control over 5.12 million shares. And BlackRock Fund Advisors raised its holdings to 0.98 million shares by acquiring 3.3 million shares or 4.92% of the stake.

Braze Inc (BRZE) concluded trading on 12/07/23 at a closing price of $54.19, with 2.44 million shares of worth about $131.97 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 59.66% during that period and on Thursday the price saw a loss of about -3.44%. Currently the company’s common shares owned by public are about 61.59M shares, out of which, 57.23M shares are available for trading.

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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 18 analysts are covering the BRZE stock and their offered price forecasts bring an average price target of $69.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $80.00 and could fall to a lowest price of $60.00. The stock’s current price level is 7.51% above of average price target set by the analysts, while a rise to estimated low would result in gain of 9.68% for the stock. However, touching the estimated high of $80.00 would mean a gain of 32.26% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 91 times over the past 12 months. They bought 1,400,251 shares in 24 of the transactions. In 67 selling transactions, insiders dumped 9,684,867 shares.

Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Braze Inc Vanguard Total Stock Market ETF is currently holding 1.5 million shares of worth totaling $63.74 million. The company recently came buying 14748.0 shares which brought its stake up to 2.23% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 600.0 shares, after which its hold over company’s outstanding shares expand to 1.84%, leaving 1.23 million shares with the mutual fund that have a worth of about $52.53 million. iShares Russell 2000 ETF, after selling 1.22 million shares, have now control over 1.81% of the stake in the company. It holds 12213.0 shares of worth $51.8 million.

Braze Inc (NASDAQ: BRZE) started trading at $58.53, above $2.41 from concluding price of the previous day. However, the stock later moved at a day high price of 58.67, or with a loss of -3.44%. Stock saw a price change of -1.37% in past 5 days and over the past one month there was a price change of 14.88%. Year-to-date (YTD), BRZE shares are showing a performance of 98.64% which increased to 120.20% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $23.67 but also hit the highest price of $57.85 during that period. The average intraday trading volume for Braze Inc shares is 868.55K. The stock is currently trading 4.89% above its 20-day simple moving average (SMA20), while that difference is up 13.35% for SMA50 and it goes to 35.25% higher than SMA200.

Morgan Stanley & Co. LLC acquired 5.27 million shares of Braze Inc having value of about $224.41 million. Data submitted at the U.S SEC by Morgan Stanley & Co. LLC revealed that the firm now holds 0.89 million shares in the company valued at close to $48182334.03, or have control over 20.29% stake in the company. Braze Inc (NASDAQ: BRZE) currently have 61.59M outstanding shares and institutions hold larger chunk of about 48.12% of that. Holding of mutual funds in the company is about 44.15% while other institutional holders and individual stake holders have control over 45.22% and 26.07% of the stake respectively.

The stock has a current market capitalization of $5.38B and its 3Y-monthly beta is at 1.25. It has posted earnings per share of -$1.39 in the same period. It has Quick Ratio of 2.31 while making debt-to-equity ratio of 0.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BRZE, volatility over the week remained 4.95% while standing at 3.74% over the month.

Analysts are in expectations that Braze Inc (BRZE) stock would likely to be making an EPS of -$0.07 in the current quarter, while forecast for next quarter EPS is -$0.06 and it is -$0.07 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.08 which is -$0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 58.66% while it is estimated to increase by 94.16% in next year.

Analysts at 18 brokerage firms have issued recommendations for the Braze Inc (BRZE)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.33. Out of those 18 Wall Street analysts, 14 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BTIG Research on Dec-08-23 offering a Buy rating for the stock and assigned a target price range of between $60 and $75 to it.

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