Braze (NASDAQ:BRZE) Price Target Lowered to $47.00 at The Goldman Sachs Group

Braze (NASDAQ:BRZE) had its price target dropped by equities researchers at The Goldman Sachs Group from $65.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 31.03% from the stock’s current price.

Several other research analysts also recently weighed in on BRZE. JPMorgan Chase & Co. cut their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Barclays reduced their price objective 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. Piper Sandler lowered their target price on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Macquarie assumed coverage on Braze in a research note on Thursday, October 31st. They set a “neutral” rating and a $30.00 price target on the stock. Finally, UBS Group decreased their price objective on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.47.

Braze Price Performance

BRZE traded up $0.14 during midday trading on Tuesday, reaching $35.87. 129,393 shares of the company’s stock were exchanged, compared to its average volume of 1,021,101. The business’s 50-day moving average price is $33.27 and its 200 day moving average price is $37.74. The stock has a market capitalization of $3.68 billion, a PE ratio of -30.40 and a beta of 1.03. Braze has a 1-year low of $29.18 and a 1-year high of $61.53.

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

Insider Activity

In related news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the transaction, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO William Magnuson sold 17,840 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total value 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 approximately $24,852,986.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now owns 56,830 shares in the company, valued at $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,658 shares of company stock worth $7,980,396. 24.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

A number of hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its stake in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares in the last quarter. Quarry LP acquired a new stake in Braze during the second quarter valued at approximately $50,000. Comerica Bank lifted its holdings in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the last quarter. KBC Group NV grew its position in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares during the last quarter. 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.