Braze (NASDAQ:BRZE) PT Lowered to $40.00

Braze (NASDAQ:BRZE) had its target price reduced by Piper Sandler from $51.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 33.29% from the company’s previous close.

A number of other research analysts have also recently commented on BRZE. TD Cowen reduced their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Scotiabank raised shares of Braze from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $48.00 to $56.00 in a research note on Wednesday, July 10th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. Barclays cut their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research note on Tuesday, September 24th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $58.53.

Braze Trading Up 0.1 %

Shares of NASDAQ BRZE opened at $30.01 on Thursday. The business has a 50-day moving average of $38.05 and a 200-day moving average of $39.57. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of -23.45 and a beta of 1.03. Braze has a 12 month low of $29.95 and a 12 month high of $61.53.

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

Insider Activity at Braze

In other Braze news, CAO Pankaj Malik sold 1,381 shares of Braze stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $41.12, for a total transaction of $56,786.72. Following the sale, the chief accounting officer now directly owns 72,980 shares of the company’s stock, valued at approximately $3,000,937.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Braze news, Director Fernando Machado sold 1,377 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Pankaj Malik sold 1,381 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $41.12, for a total value of $56,786.72. Following the transaction, the chief accounting officer now directly owns 72,980 shares of the company’s stock, valued at $3,000,937.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,284 shares of company stock worth $7,928,732 over the last 90 days. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new position in shares of Braze during the fourth quarter valued at approximately $40,000. Covestor Ltd raised its stake in Braze by 401.1% during 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 purchased a new position in Braze during the second quarter valued at $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% in 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 owned by hedge funds and other institutional investors.

Braze Company Profile

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.