Braze (NASDAQ:BRZE) Price Target Cut to $51.00

Braze (NASDAQ:BRZE) had its price target reduced by investment analysts at UBS Group from $56.00 to $51.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 55.58% from the company’s current price.

A number of other equities analysts have also recently commented on the company. BTIG Research decreased their target price on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Barclays decreased their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Scotiabank upgraded 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 note on Wednesday, July 10th. Oppenheimer decreased their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, TD Cowen dropped their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze currently has a consensus rating of “Buy” and a consensus target price of $59.18.

Braze Stock Up 1.3 %

Braze stock opened at $32.78 on Wednesday. Braze has a 52-week low of $31.80 and a 52-week high of $61.53. The company has a market cap of $3.33 billion, a P/E ratio of -25.61 and a beta of 1.07. The business has a 50-day simple moving average of $39.87 and a two-hundred day simple moving average of $40.96.

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

Insider Buying and Selling at Braze

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

Hedge Funds Weigh In On Braze

Institutional investors have recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new stake in shares of Braze during the 4th quarter valued at about $40,000. Covestor Ltd raised its position 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 purchasing an additional 738 shares during the period. Quarry LP bought a new stake in shares of Braze in the 2nd quarter valued at approximately $50,000. Comerica Bank boosted its holdings in shares of Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the period. Finally, Canton Hathaway LLC increased its position in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after purchasing an additional 1,187 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

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.