Braze (NASDAQ:BRZE) PT Lowered to $40.00

Braze (NASDAQ:BRZE) had its price target decreased by equities research analysts at Piper Sandler from $51.00 to $40.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 30.25% from the stock’s current price.

BRZE has been the topic of several other reports. Barclays reduced their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. TD Cowen reduced their price objective on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. UBS Group decreased their target price on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Loop Capital reaffirmed a “buy” rating and issued a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Eighteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $58.53.

Braze Trading Up 2.6 %

Shares of BRZE opened at $30.71 on Thursday. The stock has a market cap of $3.12 billion, a PE ratio of -23.99 and a beta of 1.03. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The stock has a 50 day simple moving average of $37.64 and a 200-day simple moving average of $39.36.

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

Insider Transactions at Braze

In related news, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Fernando Machado sold 1,377 shares of the business’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 transaction, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $42.18, for a total transaction of $189,810.00. Following the completion of the sale, the chief financial officer now owns 242,627 shares in the company, valued at approximately $10,234,006.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,284 shares of company stock worth $7,928,732 in the last three months. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning raised its position in shares of Braze by 12.8% during the third quarter. Creative Planning now owns 26,089 shares of the company’s stock worth $844,000 after purchasing an additional 2,968 shares during the period. Congress Park Capital LLC increased its stake in Braze by 4.5% during the 3rd quarter. Congress Park Capital LLC now owns 38,955 shares of the company’s stock worth $1,260,000 after purchasing an additional 1,671 shares in the last quarter. Diversified Trust Co raised its holdings in Braze by 4.1% during the 3rd quarter. Diversified Trust Co now owns 26,697 shares of the company’s stock worth $863,000 after buying an additional 1,050 shares during the period. SG Americas Securities LLC bought a new position in Braze in the third quarter valued at approximately $634,000. Finally, Point72 Asset Management L.P. bought a new position in Braze in the second quarter valued at approximately $10,166,000. 90.47% of the stock is owned by institutional investors and hedge funds.

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.