Braze (NASDAQ:BRZE) Given New $55.00 Price Target at Piper Sandler

Braze (NASDAQ:BRZEFree Report) had its price objective decreased by Piper Sandler from $66.00 to $55.00 in a research report sent to investors on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

BRZE has been the topic of a number of other research reports. Canaccord Genuity Group decreased their price target on shares of Braze from $65.00 to $50.00 and set a buy rating on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. lowered their target price on Braze from $60.00 to $58.00 and set an overweight rating on the stock in a research note on Thursday, March 28th. UBS Group upgraded Braze from a neutral rating to a buy rating and set a $62.00 price target for the company in a research note on Thursday, March 21st. Oppenheimer lowered their price objective on Braze from $75.00 to $60.00 and set an outperform rating on the stock in a research report on Wednesday, May 29th. Finally, DA Davidson reissued a buy rating and issued a $65.00 target price on shares of Braze in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $60.88.

Read Our Latest Stock Report on BRZE

Braze Stock Up 0.2 %

BRZE opened at $36.72 on Friday. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -28.63 and a beta of 1.06. Braze has a 12-month low of $35.47 and a 12-month high of $61.53. The business has a 50 day moving average of $41.00 and a 200-day moving average of $49.42.

Braze (NASDAQ:BRZEGet Free Report) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.01. Braze had a negative return on equity of 27.77% and a negative net margin of 25.06%. The business had revenue of $135.46 million during the quarter, compared to the consensus estimate of $131.56 million. As a group, analysts expect that Braze will post -1.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $40.93, for a total value of $184,185.00. Following the completion of the sale, the chief financial officer now owns 258,681 shares of the company’s stock, valued at $10,587,813.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.93, for a total transaction of $184,185.00. Following the completion of the sale, the chief financial officer now owns 258,681 shares of the company’s stock, valued at $10,587,813.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Magnuson sold 17,839 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.76, for a total value of $744,956.64. Following the transaction, the chief executive officer now owns 618,675 shares in the company, valued at $25,835,868. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,114 shares of company stock valued at $3,344,997. 24.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Braze

Large investors have recently bought and sold shares of the stock. 1832 Asset Management L.P. boosted its position in shares of 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 purchasing an additional 1,287,500 shares in the last quarter. Morgan Stanley boosted its holdings in Braze by 20.1% in the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after acquiring an additional 899,894 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Braze by 180.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock valued at $60,053,000 after acquiring an additional 826,100 shares during the period. Invesco Ltd. increased its holdings in shares of Braze by 167.5% during 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 in the last quarter. Finally, Norges Bank acquired a new position in shares of Braze during the fourth quarter worth approximately $37,584,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

About Braze

(Get Free Report)

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.

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Analyst Recommendations for Braze (NASDAQ:BRZE)

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