Braze (NASDAQ:BRZE) PT Lowered to $47.00

Braze (NASDAQ:BRZE) had its price objective reduced by JPMorgan Chase & Co. from $55.00 to $47.00 in a research report sent to investors on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Loop Capital restated a “buy” rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Oppenheimer lowered their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. UBS Group decreased their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Piper Sandler decreased their target price on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Nineteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $56.72.

Braze Stock Up 0.1 %

Shares of NASDAQ BRZE opened at $30.80 on Friday. The company’s 50-day simple moving average is $35.86 and its 200-day simple moving average is $38.41. Braze has a 52-week low of $29.18 and a 52-week high of $61.53. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -24.06 and a beta of 1.03.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) earnings per share. Equities research analysts anticipate that Braze will post -1.02 EPS for the current fiscal year.

Insider Activity

In other news, CEO William Magnuson sold 17,840 shares of the business’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 value of $738,040.80. Following the sale, the chief executive officer now directly owns 600,749 shares of the company’s stock, valued at approximately $24,852,986.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William Magnuson sold 17,840 shares of the company’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 $738,040.80. Following the sale, the chief executive officer now directly owns 600,749 shares of the company’s stock, valued at $24,852,986.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $42.48, for a total transaction of $509,760.00. Following the sale, the general counsel now directly owns 214,340 shares in the company, valued at approximately $9,105,163.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,658 shares of company stock valued at $9,002,766. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after acquiring an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in Braze by 6.6% during the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after acquiring an additional 128,645 shares in the last quarter. Fiera Capital Corp grew its holdings in Braze by 1.0% during the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after acquiring an additional 7,570 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Braze by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock worth $18,554,000 after acquiring an additional 73,764 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Braze by 10.9% in the 2nd quarter. Victory Capital Management Inc. now owns 391,977 shares of the company’s stock valued at $15,224,000 after buying an additional 38,504 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other 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.