Braze (NASDAQ:BRZE) PT Lowered to $45.00

Braze (NASDAQ:BRZE) had its price objective decreased by TD Cowen from $52.00 to $45.00 in a research note issued to investors on Tuesday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Barclays decreased their target price on shares of Braze from $80.00 to $70.00 and set an overweight rating on the stock in a research report on Monday, August 26th. Scotiabank raised shares of Braze from a sector perform rating to a sector outperform rating and lifted their price target for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Needham & Company LLC reaffirmed a buy rating and set a $70.00 price objective on shares of Braze in a research note on Tuesday. Loop Capital reaffirmed a buy rating and set a $75.00 price objective on shares of Braze in a report on Tuesday. Finally, Oppenheimer reduced their target price on Braze from $60.00 to $51.00 and set an outperform rating on the stock in a report on Tuesday. Eighteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average target price of $59.18.

Braze Stock Performance

NASDAQ BRZE opened at $33.22 on Tuesday. The stock has a market capitalization of $3.38 billion, a PE ratio of -25.95 and a beta of 1.07. The stock has a 50-day simple moving average of $39.73 and a 200 day simple moving average of $40.82. Braze has a twelve month low of $31.80 and a twelve month high of $61.53.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 22.01% and a negative return on equity of 25.89%. Braze’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. As a group, equities research analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insider Activity at Braze

In other Braze 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 sale, the insider now directly owns 199,963 shares in the company, valued at $9,128,310.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 transaction of $2,282,500.00. Following the transaction, the insider now owns 199,963 shares in the company, valued at approximately $9,128,310.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Isabelle Winkles sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.15, for a total value of $451,500.00. Following the completion of the transaction, the chief financial officer now owns 216,208 shares of the company’s stock, valued at $9,761,791.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,465 shares of company stock worth $8,054,420. 24.03% of the stock is owned by insiders.

Institutional Trading of Braze

A number of institutional investors have recently modified their holdings of the company. 1832 Asset Management L.P. boosted its position in Braze by 537.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after purchasing an additional 1,287,500 shares during the last quarter. Norges Bank acquired a new position in Braze during the fourth quarter worth $37,584,000. Vanguard Group Inc. increased its holdings in Braze by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after buying an additional 480,179 shares during the last quarter. Granite Investment Partners LLC bought a new stake in Braze during the second quarter worth $12,925,000. Finally, Point72 Asset Management L.P. acquired a new stake in Braze in the second quarter valued at $10,166,000. 90.47% of the stock is currently owned by institutional investors.

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.