UBS Group Trims Braze (NASDAQ:BRZE) Target Price to $51.00

Braze (NASDAQ:BRZE) had its price objective reduced by analysts at UBS Group from $56.00 to $51.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 55.58% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Raymond James decreased their price target on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, June 7th. Canaccord Genuity Group boosted their price target on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 target price on shares of Braze in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Tuesday. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Braze has a consensus rating of “Buy” and an average price target of $59.18.

Braze Trading Up 0.4 %

BRZE traded up $0.14 during midday trading on Wednesday, hitting $32.78. 547,179 shares of the company were exchanged, compared to its average volume of 994,704. The company’s 50 day simple moving average is $40.20 and its 200 day simple moving average is $41.08. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -25.69 and a beta of 1.07. Braze has a 1-year low of $31.80 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the business earned ($0.30) earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. On average, equities analysts anticipate that Braze will post -1.02 EPS for the current year.

Insider Activity

In other Braze news, insider Myles Kleeger sold 9,178 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $379,693.86. Following the sale, the insider now owns 206,340 shares of the company’s stock, valued at $8,536,285.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the sale, the general counsel now owns 206,930 shares in the company, valued at $9,104,920. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Myles Kleeger sold 9,178 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $379,693.86. Following the transaction, the insider now owns 206,340 shares in the company, valued at $8,536,285.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,727 shares of company stock worth $8,140,693. 24.03% of the stock is currently owned by insiders.

Institutional Trading of Braze

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after buying an additional 148,366 shares during the last quarter. Champlain Investment Partners LLC raised its stake in Braze by 6.6% during the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock valued at $92,357,000 after acquiring an additional 128,645 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after acquiring an additional 1,287,500 shares during the period. Fiera Capital Corp grew its stake in shares of Braze by 1.0% in the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock valued at $30,320,000 after purchasing an additional 7,570 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Braze in the fourth quarter valued at approximately $37,584,000. 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.