Braze (NASDAQ:BRZE) PT Lowered to $51.00

Braze (NASDAQ:BRZE) had its price target reduced by UBS Group from $56.00 to $51.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 55.58% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Raymond James cut their target price on Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, June 7th. BTIG Research reduced their target price on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday. Scotiabank raised shares of Braze from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Finally, Citigroup raised their target price on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze has a consensus rating of “Buy” and an average price target of $59.18.

Braze Price Performance

BRZE opened at $32.78 on Wednesday. The stock’s 50 day simple moving average is $39.87 and its 200 day simple moving average is $40.96. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -25.61 and a beta of 1.07. Braze has a 1 year low of $31.80 and a 1 year high of $61.53.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) earnings per share. As a group, sell-side analysts anticipate that Braze will post -1.02 EPS for the current year.

Insider Transactions at Braze

In other news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the sale, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the transaction, the general counsel now directly owns 206,930 shares in the company, valued at approximately $9,104,920. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $39.06, for a total value of $175,770.00. Following the completion of the transaction, the chief financial officer now directly owns 242,627 shares in the company, valued at $9,477,010.62. The disclosure for this sale can be found here. Insiders have sold a total of 186,465 shares of company stock valued at $8,054,420 in the last ninety days. 24.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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