Goldman Sachs Reaffirms Their Buy Rating on Braze (BRZE)

In a report released today, Gabriela Borges from Goldman Sachs reiterated a Buy rating on Braze, with a price target of $52.00. The company’s shares closed last Friday at $28.42.

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According to TipRanks, Borges is a 4-star analyst with an average return of 7.6% and a 54.67% success rate. Borges covers the Technology sector, focusing on stocks such as Palo Alto Networks, Clearwater Analytics Holdings, and Fortinet.

Currently, the analyst consensus on Braze is a Strong Buy with an average price target of $42.69, a 50.21% upside from current levels. In a report released on October 2, Barclays also maintained a Buy rating on the stock with a $39.00 price target.

Based on Braze’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $180.11 million and a GAAP net loss of $27.9 million. In comparison, last year the company earned a revenue of $145.5 million and had a GAAP net loss of $23 million

Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BRZE in relation to earlier this year. Last month, Pankaj Malik, the CAO of BRZE sold 4,174.00 shares for a total of $136,781.98.