Braze (NASDAQ:BRZE) Given New $51.00 Price Target at Oppenheimer

Braze (NASDAQ:BRZE) had its target price reduced by analysts at Oppenheimer from $60.00 to $51.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 47.29% from the stock’s current price.

BRZE has been the subject of several other research reports. Raymond James cut their price target on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. Citigroup increased their target price on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Braze in a research report on Tuesday. Canaccord Genuity Group upped their price target on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, DA Davidson reissued a “buy” rating and issued a $65.00 price objective on shares of Braze in a research note on Friday, September 6th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $60.82.

Braze Stock Performance

Shares of NASDAQ:BRZE opened at $34.63 on Tuesday. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -27.05 and a beta of 1.07. The firm has a fifty day moving average price of $40.38 and a 200 day moving average price of $41.22. Braze has a fifty-two week low of $33.24 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS 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 analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) EPS. As a group, research analysts predict that Braze will post -1.05 earnings per share for the current year.

Insider Transactions at Braze

In related news, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the completion of the transaction, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Braze news, CAO Pankaj Malik sold 1,381 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $41.12, for a total value of $56,786.72. Following the transaction, the chief accounting officer now directly owns 72,980 shares in the company, valued at approximately $3,000,937.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the sale, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,727 shares of company stock worth $8,140,693. 24.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in shares of Braze during the fourth quarter valued at $40,000. Covestor Ltd increased its position in Braze by 401.1% during the 1st 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. Comerica Bank raised its holdings in shares of Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares in the last quarter. Quarry LP purchased a new stake in shares of Braze in the 2nd quarter worth approximately $50,000. Finally, RiverPark Advisors LLC boosted its stake in shares of Braze by 360.9% during the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after purchasing an additional 1,411 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

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.