DA Davidson Cuts Braze (NASDAQ:BRZE) Price Target to $55.00

Braze (NASDAQ:BRZE) had its price target lowered by DA Davidson from $65.00 to $55.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

BRZE has been the subject of several other reports. Canaccord Genuity Group raised their price objective on shares of Braze from $50.00 to $53.00 and gave the stock a buy rating in a report on Friday, June 7th. Loop Capital reiterated a buy rating and issued a $75.00 price objective on shares of Braze in a research report on Tuesday. TD Cowen lowered their target price on shares of Braze from $65.00 to $52.00 and set a buy rating on the stock in a research note on Friday, May 31st. 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 research note on Monday, August 26th. Finally, Raymond James lowered their price objective on shares of Braze from $65.00 to $55.00 and set an outperform rating on the stock in a research note 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 target price of $59.18.

Braze Stock Up 1.3 %

Braze stock opened at $32.78 on Tuesday. The firm has a fifty day moving average of $39.87 and a 200-day moving average of $40.96. The firm has a market capitalization of $3.33 billion, a P/E ratio of -25.61 and a beta of 1.07. Braze has a 52-week low of $31.80 and a 52-week 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. The business had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business’s revenue was up 26.4% on a year-over-year basis. During the same period last year, the business earned ($0.30) EPS. On average, research analysts expect that Braze will post -1.02 EPS for the current fiscal year.

Insider Activity

In other news, CEO William Magnuson sold 17,840 shares of the business’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 sale, the chief executive officer now owns 600,749 shares in the company, valued at $24,852,986.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Braze news, General Counsel Susan Wiseman sold 3,558 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $38.41, for a total value of $136,662.78. Following the completion of the sale, the general counsel now directly owns 221,840 shares of the company’s stock, valued at $8,520,874.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Magnuson sold 17,840 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $738,040.80. Following the completion of the sale, the chief executive officer now directly owns 600,749 shares of the company’s stock, valued at $24,852,986.13. The disclosure for this sale can be found here. Insiders have sold 186,465 shares of company stock worth $8,054,420 over the last 90 days. 24.03% of the stock is owned by company insiders.

Institutional Trading of Braze

Large investors have recently added to or reduced their stakes in the business. M&G Plc bought a new stake in Braze in the first quarter worth approximately $6,724,000. Occudo Quantitative Strategies LP bought a new stake in Braze in the fourth quarter worth approximately $5,397,000. Vanguard Group Inc. grew its position in Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after acquiring an additional 148,366 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Braze in the first quarter worth approximately $5,714,000. Finally, Swiss National Bank boosted its holdings in shares of Braze by 14.3% during the 1st quarter. Swiss National Bank now owns 106,000 shares of the company’s stock worth $4,696,000 after buying an additional 13,300 shares during the period. 90.47% of the stock is owned by institutional investors.

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.