Braze (NASDAQ:BRZE) Price Target Cut to $45.00

Braze (NASDAQ:BRZE) had its target price reduced by TD Cowen from $52.00 to $45.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the stock. JMP Securities restated a market outperform rating and issued a $68.00 price target on shares of Braze in a research note on Tuesday. Barclays lowered their target price on shares of Braze from $80.00 to $70.00 and set an overweight rating on the stock in a report on Monday, August 26th. Oppenheimer cut their price target on Braze from $60.00 to $51.00 and set an outperform rating for the company in a research note on Tuesday. Piper Sandler restated an overweight rating and set a $51.00 price objective on shares of Braze in a research note on Friday, September 6th. Finally, Citigroup lifted their price objective on Braze from $52.00 to $58.00 and gave the company a buy rating in a report on Friday, June 7th. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $59.18.

Braze Stock Performance

Shares of BRZE stock opened at $33.22 on Tuesday. Braze has a 52 week low of $31.80 and a 52 week high of $61.53. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -25.95 and a beta of 1.07. The company has a 50-day simple moving average of $39.73 and a 200 day simple moving average of $40.82.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping 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 company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the company earned ($0.30) earnings per share. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. Sell-side analysts forecast that Braze will post -1.02 EPS for the current year.

Insider Transactions at Braze

In other news, CEO William Magnuson sold 17,840 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $738,040.80. Following the completion of the transaction, the chief executive officer now owns 600,749 shares of the company’s stock, valued at $24,852,986.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Braze news, CEO William Magnuson sold 17,840 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $738,040.80. Following the completion of the transaction, the chief executive officer now owns 600,749 shares in the company, valued at approximately $24,852,986.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 1,381 shares of Braze stock in a transaction 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 transaction, the chief accounting officer now directly owns 72,980 shares of the company’s stock, valued at approximately $3,000,937.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,465 shares of company stock worth $8,054,420. Insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Braze by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares during the period. Champlain Investment Partners LLC raised its stake in Braze by 6.6% during the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after buying an additional 128,645 shares during the period. 1832 Asset Management L.P. boosted its holdings in Braze by 537.4% in the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after acquiring an additional 1,287,500 shares in the last quarter. Fiera Capital Corp grew its stake in Braze by 1.0% in the second quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock valued at $30,320,000 after acquiring an additional 7,570 shares during the period. Finally, Norges Bank bought a new stake in shares of Braze during the fourth quarter valued at approximately $37,584,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.