Lisanti Capital Growth LLC Acquires New Stake in Braze, Inc. $BRZE

Lisanti Capital Growth LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 119,030 shares of the company’s stock, valued at approximately $4,082,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Braze by 10.0% in the 4th quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock valued at $337,793,000 after purchasing an additional 892,635 shares during the last quarter. Champlain Investment Partners LLC raised its stake in Braze by 10.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,687,928 shares of the company’s stock valued at $76,445,000 after purchasing an additional 261,351 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Braze by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock valued at $69,831,000 after purchasing an additional 139,133 shares during the last quarter. Battery Management CORP. raised its stake in Braze by 70.2% in the 3rd quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock valued at $68,967,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Braze by 28.8% in the 2nd quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock valued at $65,197,000 after purchasing an additional 518,103 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRZE has been the subject of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $43.00 price objective on shares of Braze in a research note on Monday, March 23rd. TD Cowen dropped their target price on Braze from $43.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 20th. Barclays upped their target price on Braze from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, March 25th. Citigroup dropped their target price on Braze from $53.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Finally, Stifel Nicolaus dropped their target price on Braze from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Twenty-two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.90.

Braze Stock Up 4.0%

Shares of NASDAQ:BRZE opened at $24.35 on Friday. The business has a fifty day moving average of $21.66 and a two-hundred day moving average of $24.62. The stock has a market cap of $2.76 billion, a P/E ratio of -19.96 and a beta of 0.78. Braze, Inc. has a 52-week low of $15.26 and a 52-week high of $37.67.

Braze (NASDAQ:BRZE) last issued its earnings results on Tuesday, March 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $205.17 million during the quarter, compared to analysts’ expectations of $198.23 million. Braze had a negative net margin of 17.78% and a negative return on equity of 18.75%. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share. On average, equities analysts anticipate that Braze, Inc. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 35,000 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $20.29, for a total transaction of $710,150.00. Following the completion of the transaction, the general counsel directly owned 209,424 shares in the company, valued at approximately $4,249,212.96. This represents a 14.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.20% of the company’s stock.

Braze Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.