Braze (NASDAQ:BRZE) Price Target Cut to $47.00 by Analysts at JPMorgan Chase & Co.

Braze (NASDAQ:BRZE) had its price target reduced by JPMorgan Chase & Co. from $55.00 to $47.00 in a research report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms also recently issued reports on BRZE. Stifel Nicolaus assumed coverage on Braze in a report on Tuesday, October 22nd. They set a “buy” rating and a $37.00 price objective on the stock. Piper Sandler cut their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research report on Tuesday, September 24th. Finally, UBS Group reduced their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Nineteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze has an average rating of “Buy” and an average price target of $56.72.

Braze Trading Up 0.1 %

Shares of BRZE stock opened at $30.80 on Friday. The firm has a fifty day simple moving average of $35.86 and a 200-day simple moving average of $38.34. The company has a market capitalization of $3.13 billion, a PE ratio of -24.06 and a beta of 1.03. Braze has a twelve month low of $29.18 and a twelve month high of $61.53.

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

Insider Activity at Braze

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction 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 directly owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Fernando Machado sold 1,377 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares in the company, valued at $273,919.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,158 shares of company stock worth $8,679,966 in the last 90 days. 24.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd increased its holdings in shares of Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the period. Quarry LP bought a new position in Braze in the 2nd quarter valued at about $50,000. Comerica Bank increased its stake in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the period. Canton Hathaway LLC raised its position in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after buying an additional 1,187 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its stake in shares of Braze by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after acquiring an additional 1,411 shares during the period. 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.