Braze (NASDAQ:BRZE) Price Target Cut to $51.00

Braze (NASDAQ:BRZE) had its price objective dropped by UBS Group from $56.00 to $51.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 55.58% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Citigroup raised their price objective on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Raymond James dropped their price objective on shares of Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, June 7th. JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research note on Tuesday. Oppenheimer dropped their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday. Eighteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $59.18.

Braze Stock Performance

Shares of BRZE traded up $0.14 during mid-day trading on Wednesday, hitting $32.78. 547,179 shares of the stock were exchanged, compared to its average volume of 994,704. The company has a market cap of $3.33 billion, a PE ratio of -25.69 and a beta of 1.07. Braze has a 52-week low of $31.80 and a 52-week high of $61.53. The firm has a 50-day moving average of $40.20 and a two-hundred day moving average of $41.08.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the business earned ($0.30) earnings per share. Braze’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts predict that Braze will post -1.02 EPS for the current year.

Insider Transactions at Braze

In related news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the transaction, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the sale, the chief financial officer now owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Pankaj Malik sold 1,381 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $41.12, for a total transaction of $56,786.72. Following the completion of the transaction, the chief accounting officer now owns 72,980 shares of the company’s stock, valued at $3,000,937.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,727 shares of company stock valued at $8,140,693. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several institutional investors have recently bought and sold shares of BRZE. Neo Ivy Capital Management purchased a new stake in shares of Braze during the 4th quarter valued at $40,000. Covestor Ltd raised its stake in Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after buying an additional 738 shares during the last quarter. Quarry LP acquired a new stake in Braze in the second quarter worth about $50,000. Comerica Bank boosted its holdings in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares in the last quarter. Finally, Canton Hathaway LLC grew its stake in shares of Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.