The Goldman Sachs Group Cuts Braze (NASDAQ:BRZE) Price Target to $47.00

Braze (NASDAQ:BRZE) had its price objective trimmed by The Goldman Sachs Group from $65.00 to $47.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Barclays reduced their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Macquarie started coverage on shares of Braze in a research note on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price on the stock. TD Cowen dropped their price target 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. Finally, UBS Group lowered their target price 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. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.47.

Braze Trading Down 0.3 %

Shares of NASDAQ BRZE opened at $36.49 on Tuesday. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -30.92 and a beta of 1.03. Braze has a 52 week low of $29.18 and a 52 week high of $61.53. The company’s 50-day moving average price is $32.84 and its 200 day moving average price is $37.69.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data 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 net margin of 22.01% and a negative return on equity of 25.89%. The company’s revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.30) EPS. As a group, research analysts expect that Braze will post -1.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction on 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 sale, the insider now owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Myles Kleeger sold 50,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the sale, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. This represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,252 shares of company stock valued at $5,977,839 in the last quarter. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Braze during the first quarter valued at approximately $114,000. Oppenheimer Asset Management Inc. grew its stake in shares of Braze by 15.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,938 shares of the company’s stock worth $307,000 after acquiring an additional 923 shares during the last quarter. Swiss National Bank boosted its position in Braze by 14.3% in the first quarter. Swiss National Bank now owns 106,000 shares of the company’s stock valued at $4,696,000 after buying an additional 13,300 shares during the last quarter. Sei Investments Co. boosted its position in Braze by 12.9% in the first quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock valued at $5,005,000 after buying an additional 12,878 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Braze in the first quarter valued at approximately $121,000. 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.