August 20, 2023
&Y Intercept Hong Kong Ltd Acquires Stake in Braze, Inc.
Global investment firm &Y Intercept Hong Kong Ltd recently announced the acquisition of a new stake in technology company Braze, Inc. (NASDAQ:BRZE) during the first quarter of this year. This development was detailed in the company’s latest 13F filing with the Securities and Exchange Commission. The fund acquired a total of 7,193 shares of Braze’s stock, which were valued at approximately $249,000.
Braze (NASDAQ:BRZE) is known for its innovative technology solutions and has gained attention for its recent quarterly performance. On Thursday, June 8th, the company released its earnings results for the quarter. Despite initial projections indicating a loss per share (EPS) of ($0.18), Braze managed to surpass expectations by reporting an EPS of ($0.13), thereby exceeding the consensus estimate by $0.05.
Furthermore, Braze achieved impressive revenue figures during this period. The company generated $101.80 million in revenue for the quarter, surpassing the consensus estimate of $98.77 million. This represents a substantial increase of 31.4% compared to the same quarter last year and demonstrates strong growth within the organization.
Although Braze has recorded significant progress in terms of revenue and EPS growth, it is important to note that they have had negative net margins and a negative return on equity over this same period. The negative net margin was recorded at 36.38%, while the negative return on equity stood at 30.00%. Despite these challenges, analysts remain optimistic about Braze’s future prospects.
Looking ahead to the current fiscal year, research analysts predict that Braze will post an EPS of -1.53 based on their average estimates. While these numbers indicate potential losses for the organization in the short term, industry experts believe that Braze has the potential to turn things around and further innovate its technology offerings.
In conclusion, &Y Intercept Hong Kong Ltd’s recent acquisition of a stake in Braze, Inc. demonstrates growing interest in the company’s prospects. Braze’s quarterly earnings report showcased better-than-expected performance in both EPS and revenue figures. While challenges such as negative net margins and return on equity persist, analysts remain cautiously optimistic about the future potential of Braze. Investors and industry experts will continue to closely monitor the progress of Braze as it navigates through these dynamic market conditions.
For more detailed information on Braze, Inc., interested parties can refer to our latest report on BRZE.
Disclaimer: The content provided in this article is for informational purposes only and should not be construed as financial or investment advice.
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Braze, Inc. Gains Interest from Large Investors and Shows Promising Growth Prospects
Braze, Inc., a leading customer engagement platform, has recently seen an increase in interest from large investors. Morgan Stanley, for instance, has boosted its holdings in the company by 21.4% during the fourth quarter of last year. Their ownership now amounts to 4,992,683 shares valued at $136,200,000 after acquiring an additional 880,451 shares.
Vanguard Group Inc. also demonstrated their confidence in Braze by increasing their holdings by 27.4% during the third quarter of last year. They now own 3,078,339 shares worth $107,219,000 after purchasing an additional 662,837 shares.
Alliancebernstein L.P. is another major investor that increased its position in Braze by 8.1% during the same period. They currently hold 1,987,166 shares worth $69,213,000 after acquiring an additional 148,796 shares.
Price T Rowe Associates Inc., MD raised its stake in Braze significantly during the second quarter of last year by 54.5%. Currently owning 847,360 shares valued at $30,700,000 after purchasing an extra 298,790 shares.
Lastly, BlackRock Inc., a well-known investment management corporation lifted its stake in Braze by an impressive 111.0% during the third quarter of last year. Currently owning 502,198 shares worth $17,493,000 after acquiring an additional 264-224 shares.
Overall institutional and hedge fund ownership accounts for around 45.06% of all Braze stock as at August 20th ,2023.
In terms of market performance data,Braze stock opened at $40.74 on Friday (August XX ,2023). With a market capitalization reaching about $3.98 billion.the firm maintains a PE ratio of -28:10 and presents a beta of 1.06., Reflecting the company’s volatility corresponding to market movements. Over the past year, shares have traded between a range of $22.53 and $48.25.The firm has shown a steady upward moving trend in its stock price over time.
In recent major corporate news, Dharmesh Thakker, a major shareholder of Braze, sold 26,037 shares on Wednesday, July 5th at an average price of $42.68 per share, with an approximate value of $1,111,259.16.
Additionally, the company’s Chief Technology Officer (CTO), Jonathan Hyman, also sold 3,586 shares on Wednesday, August 16th at an average price of $41.26 per share. The total transaction value amounted to $147,958.36 Following this transaction,the CTO now directly holds approximately about 133-424 shares valued at around $5-505-074-24 dollar.The sales were reported to the Securities & Exchange Commission(SEC) who meticulously tracks trading activities of key insiders which is accessible online ,at its official website.
These insider trades have notably contributed to the overall selling activity by corporate insiders within Braze; with a cumulative sale equalling approximately483-006 BRAZE shares in total,resulting in a value exceeding$20-746-085 throughout the last quarter of business . At present ,corporate insiders currently hold around26:48%of Braze stock .
A multitude of analysts have provided their insights into Braze’s stock.Consequently,Piper Sandler has increased its target price from$40-$45.Two other notable institutions that issued positive commentary are Oppenheimer with a revised target price adjusted upwardly from$38-$42 and Canaccord Genuity Group who raised their target price from$42-$48 .
Overall,Braze received favourable coverage as thirteen out sixteen investment analysts dubbed it a “buy” and three experts classified it as”a hold”.According to Bloomberg,the stock currently has an average rating of ”Moderate Buy”.The consensus price target according to market analysts stands at $42.94,further fueling the positive sentiment.
Braze is evidently attracting significant investor attention as demonstrated by notable increases in institutional holdings. With its innovative customer engagement platform and positive analyst outlook, Braze is positioned for continued growth in the foreseeable future.
