Braze (NASDAQ:BRZE) PT Lowered to $45.00

Braze (NASDAQ:BRZE) had its price target cut by equities research analysts at TD Cowen from $52.00 to $45.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 39.06% from the company’s previous close.

Several other brokerages also recently issued reports on BRZE. JMP Securities reiterated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research note on Tuesday. Loop Capital reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Braze in a research report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $51.00 target price on shares of Braze in a report on Friday, September 6th. Citigroup increased their price objective on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Finally, DA Davidson decreased their target price on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $59.18.

Braze Stock Down 0.9 %

Braze stock opened at $32.36 on Tuesday. The stock’s 50 day moving average is $40.02 and its 200 day moving average is $41.01. The company has a market capitalization of $3.29 billion, a P/E ratio of -25.28 and a beta of 1.07. Braze has a twelve month low of $31.80 and a twelve month high of $61.53.

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

Insider Activity at Braze

In other news, insider Myles Kleeger sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00. Following the transaction, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Myles Kleeger sold 50,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the sale, the insider now directly owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Pankaj Malik sold 2,262 shares of Braze stock in a transaction on Friday, June 28th. The shares were sold at an average price of $38.14, for a total transaction of $86,272.68. Following the transaction, the chief accounting officer now owns 74,361 shares in the company, valued at approximately $2,836,128.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,727 shares of company stock worth $8,140,693. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several institutional investors have recently made changes to their positions in BRZE. Point72 Asset Management L.P. purchased a new position in Braze in the 2nd quarter worth approximately $10,166,000. Quarry LP purchased a new position in shares of Braze in the second quarter worth $50,000. Creative Planning boosted its position in shares of Braze by 1.7% during the second quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after acquiring an additional 384 shares during the last quarter. Algert Global LLC purchased a new position in Braze during the second quarter valued at $2,376,000. Finally, Mackenzie Financial Corp bought a new stake in Braze in the 2nd quarter valued at $971,000. 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.