Braze (NASDAQ:BRZE) Price Target Cut to $50.00 by Analysts at DA Davidson

Braze (NASDAQ:BRZE) had its price target lowered by DA Davidson from $55.00 to $50.00 in a report issued on Tuesday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Macquarie started coverage on Braze in a research report on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target on the stock. TD Cowen cut their target price on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target (down previously from $70.00) on shares of Braze in a research report on Tuesday. Loop Capital reissued a “buy” rating and set a $75.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.63.

Braze Price Performance

NASDAQ:BRZE opened at $40.95 on Tuesday. The firm has a market capitalization of $4.21 billion, a P/E ratio of -35.92 and a beta of 1.15. Braze has a one year low of $29.18 and a one year high of $61.53. The company’s 50-day simple moving average is $34.46 and its 200 day simple moving average is $37.25.

Insider Buying and Selling

In related news, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total value of $144,540.00. Following the transaction, the chief financial officer now owns 216,208 shares of the company’s stock, valued at approximately $6,944,600.96. This trade represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fernando Machado sold 1,377 shares of the company’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 sale, the director now directly owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,979 shares of company stock valued at $3,688,914 over the last 90 days. Company insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BRZE. Comerica Bank raised its holdings in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the period. Blair William & Co. IL raised its stake in shares of Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after buying an additional 283 shares during the period. Amalgamated Bank lifted its position in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares in the last quarter. Creative Planning grew its stake in shares of Braze by 1.7% during the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after acquiring an additional 384 shares during the period. Finally, KBC Group NV grew its stake in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares during the period. Hedge funds and other 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.