Braze (NASDAQ:BRZE) PT Lowered to $52.00

Braze (NASDAQ:BRZE) had its price objective dropped by analysts at TD Cowen from $65.00 to $52.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 39.90% from the stock’s current price.

A number of other research analysts have also recently weighed in on BRZE. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, March 28th. JPMorgan Chase & Co. reduced their target price on shares of Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, March 28th. DA Davidson reaffirmed a “buy” rating and set a $65.00 price target on shares of Braze in a research note on Monday, March 25th. Wells Fargo & Company dropped their price target on shares of Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, Canaccord Genuity Group dropped their price target on shares of Braze from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and an average target price of $61.71.

Braze Trading Down 0.4 %

BRZE traded down $0.15 during midday trading on Friday, reaching $37.17. The company’s stock had a trading volume of 220,952 shares, compared to its average volume of 806,469. The stock’s 50-day moving average is $42.43 and its 200-day moving average is $49.97. Braze has a 1 year low of $30.83 and a 1 year high of $61.53. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -28.00 and a beta of 1.13.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. The company had revenue of $130.96 million for the quarter, compared to the consensus estimate of $124.55 million. As a group, equities research analysts forecast that Braze will post -1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Braze news, Director Fernando Machado sold 2,361 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $42.46, for a total transaction of $100,248.06. Following the transaction, the director now directly owns 6,101 shares of the company’s stock, valued at $259,048.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Braze news, Director Fernando Machado sold 2,361 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $42.46, for a total transaction of $100,248.06. Following the transaction, the director now directly owns 6,101 shares of the company’s stock, valued at $259,048.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Isabelle Winkles sold 4,096 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $42.68, for a total transaction of $174,817.28. Following the transaction, the chief financial officer now directly owns 242,135 shares in the company, valued at $10,334,321.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,114 shares of company stock valued at $3,344,997. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Hedge funds have recently modified their holdings of the business. Fred Alger Management LLC acquired a new stake in shares of Braze in the third quarter valued at about $29,000. Neo Ivy Capital Management acquired a new stake in Braze during the fourth quarter worth about $40,000. Canton Hathaway LLC acquired a new stake in Braze during the fourth quarter worth about $42,000. Covestor Ltd increased its position in Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares during the last quarter. Finally, Comerica Bank increased its position in Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.