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

Braze (NASDAQ:BRZE) had its target price decreased by research analysts at Oppenheimer from $60.00 to $51.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 57.60% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Barclays reduced their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. BTIG Research reduced their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 31st. Loop Capital reissued a “buy” rating and issued a $75.00 price target on shares of Braze in a report on Tuesday. DA Davidson restated a “buy” rating and set a $65.00 price objective on shares of Braze in a research report on Friday, September 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $51.00 target price on shares of Braze in a research report on Friday, September 6th. Eighteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $59.18.

Braze Stock Performance

Shares of BRZE stock opened at $32.36 on Tuesday. Braze has a 52-week low of $31.80 and a 52-week high of $61.53. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -25.28 and a beta of 1.07. The firm’s 50-day moving average is $40.02 and its 200-day moving average is $41.01.

Braze (NASDAQ:BRZE) last released its quarterly earnings data 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 return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the prior year, the company earned ($0.30) earnings per share. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. Sell-side analysts predict that Braze will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the completion of the transaction, the chief accounting officer now owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the sale, the general counsel now directly owns 206,930 shares in the company, valued at $9,104,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $86,272.68. Following the completion of 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 quarter, insiders have sold 188,727 shares of company stock worth $8,140,693. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Large investors have recently bought and sold shares of the business. M&G Plc bought a new position in shares of Braze in the first quarter worth about $6,724,000. Occudo Quantitative Strategies LP acquired a new stake in Braze in the fourth quarter valued at approximately $5,397,000. Vanguard Group Inc. boosted 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 valued at $261,146,000 after buying an additional 148,366 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of Braze during the first quarter worth $5,714,000. Finally, Swiss National Bank increased its holdings in shares of Braze by 14.3% during the first 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 in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

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.