Braze (NASDAQ:BRZE) PT Lowered to $70.00

Braze (NASDAQ:BRZE) had its price target trimmed by Barclays from $80.00 to $70.00 in a research report report published on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Scotiabank raised shares of Braze from a sector perform rating to a sector outperform rating and increased their price objective for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. JMP Securities reissued a market outperform rating and issued a $68.00 price objective on shares of Braze in a research note on Friday, June 7th. Citigroup upped their target price on Braze from $52.00 to $58.00 and gave the stock a buy rating in a research report on Friday, June 7th. Wells Fargo & Company reduced their price target on shares of Braze from $75.00 to $65.00 and set an overweight rating for the company in a research report on Monday, April 29th. Finally, Raymond James decreased their price target on shares of Braze from $65.00 to $55.00 and set an outperform rating for the company in a research note on Friday, June 7th. Seventeen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze has an average rating of Buy and a consensus target price of $60.50.

Braze Stock Performance

Shares of BRZE opened at $44.55 on Monday. The firm has a market cap of $4.53 billion, a PE ratio of -34.80 and a beta of 1.07. Braze has a 52-week low of $33.93 and a 52-week high of $61.53. The business’s 50 day moving average price is $40.25 and its two-hundred day moving average price is $43.66.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.01. The company had revenue of $135.46 million during the quarter, compared to analyst estimates of $131.56 million. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. Research analysts predict that Braze will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Braze news, CFO Isabelle Winkles sold 10,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.15, for a total value of $451,500.00. Following the completion of the sale, the chief financial officer now owns 216,208 shares in the company, valued at approximately $9,761,791.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $38.14, for a total value of $86,272.68. Following the transaction, the chief accounting officer now directly owns 74,361 shares of the company’s stock, valued at approximately $2,836,128.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Isabelle Winkles sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.15, for a total transaction of $451,500.00. Following the sale, the chief financial officer now owns 216,208 shares of the company’s stock, valued at approximately $9,761,791.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,845 shares of company stock worth $7,506,929. 24.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRZE. 1832 Asset Management L.P. increased its stake 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 during the last quarter. Norges Bank purchased a new stake in Braze in the fourth quarter worth $37,584,000. Fiera Capital Corp bought a new stake in shares of Braze in the fourth quarter valued at $31,153,000. Vanguard Group Inc. lifted its position in shares of Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after buying an additional 480,179 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new position in shares of Braze during the 2nd quarter worth $12,925,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.