Braze (NASDAQ:BRZE) PT Lowered to $65.00

Braze (NASDAQ:BRZE) had its price objective dropped by stock analysts at Wells Fargo & Company from $75.00 to $65.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 55.13% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Braze in a research report on Thursday, March 28th. Canaccord Genuity Group reduced their price objective on Braze from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. TD Cowen lowered their price objective on shares of Braze from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. JPMorgan Chase & Co. dropped their price objective on shares of Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, March 28th. Finally, Oppenheimer reissued an “outperform” rating and set a $75.00 price objective on shares of Braze in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus target price of $64.12.

Braze Trading Down 3.1 %

Shares of NASDAQ BRZE opened at $41.90 on Monday. The firm has a 50-day moving average of $48.33 and a two-hundred day moving average of $50.54. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -31.50 and a beta of 1.14. Braze has a twelve month low of $25.76 and a twelve month high of $61.53.

Braze (NASDAQ:BRZE) last released its earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.02. The business had revenue of $130.96 million during the quarter, compared to analyst estimates of $124.55 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. As a group, research analysts predict that Braze will post -1.18 earnings per share for the current year.

Insider Transactions at Braze

In other Braze news, insider Myles Kleeger sold 15,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total value of $854,400.00. Following the completion of the sale, the insider now directly owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $41.79, for a total transaction of $62,685.00. Following the sale, the director now directly owns 11,056 shares in the company, valued at $462,030.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the sale, the insider now owns 244,291 shares in the company, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,815 shares of company stock worth $4,164,679. Company insiders own 26.48% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently made changes to their positions in BRZE. Vanguard Group Inc. grew its position in Braze by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares during the period. Morgan Stanley grew its stake in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after buying an additional 899,894 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Braze by 537.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after buying an additional 1,287,500 shares in the last quarter. Invesco Ltd. raised its stake in shares of Braze by 167.5% in the third quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock valued at $60,467,000 after acquiring an additional 810,295 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Braze by 180.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock worth $60,053,000 after acquiring an additional 826,100 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

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.