UBS Group Lowers Braze (NASDAQ:BRZE) Price Target to $51.00

Braze (NASDAQ:BRZE) had its price objective lowered by UBS Group from $56.00 to $51.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on BRZE. BTIG Research reduced their price target on shares of Braze from $68.00 to $62.00 and set a buy rating on the stock in a research report on Friday, May 31st. JMP Securities restated a market outperform rating and set a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. DA Davidson lowered their price target on Braze from $65.00 to $55.00 and set a buy rating for the company in a report on Tuesday, September 24th. Oppenheimer reduced their price objective on Braze from $60.00 to $51.00 and set an outperform rating on the stock in a research note on Tuesday, September 24th. Finally, Loop Capital reaffirmed a buy rating and issued a $75.00 target price on shares of Braze in a research report on Tuesday, September 24th. Eighteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $59.18.

Braze Stock Performance

Shares of BRZE stock opened at $33.22 on Wednesday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -25.95 and a beta of 1.07. Braze has a one year low of $31.80 and a one year high of $61.53. The company has a 50 day moving average price of $39.73 and a 200 day moving average price of $40.74.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. The business 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%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the company posted ($0.30) EPS. As a group, equities analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insider Activity

In related news, insider Myles Kleeger sold 50,000 shares of Braze 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 owns 199,963 shares in the company, valued at $9,128,310.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Myles Kleeger sold 50,000 shares of Braze 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 completion of the transaction, the insider now directly owns 199,963 shares in the company, valued at $9,128,310.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The disclosure for this sale can be found here. In the last three months, insiders sold 186,465 shares of company stock worth $8,054,420. 24.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of Braze by 24.9% during the fourth quarter. Principal Financial Group Inc. now owns 116,989 shares of the company’s stock worth $6,216,000 after purchasing an additional 23,322 shares during the period. Norges Bank acquired a new stake in Braze during the fourth quarter worth about $37,584,000. Assetmark Inc. bought a new position in Braze in the fourth quarter worth about $580,000. US Bancorp DE lifted its holdings in Braze by 2,518.1% in the fourth quarter. US Bancorp DE now owns 11,729 shares of the company’s stock worth $623,000 after acquiring an additional 11,281 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in Braze in the fourth quarter valued at approximately $759,000. Institutional investors and hedge funds 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.