JPMorgan Chase & Co. Issues Pessimistic Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $45.00 to $32.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 70.48% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Braze in a research report on Wednesday, January 14th. Wells Fargo & Company boosted their target price on shares of Braze from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Citizens Jmp reiterated a “market outperform” rating and set a $68.00 target price on shares of Braze in a research note on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Braze in a report on Monday, December 29th. Finally, DA Davidson raised their price target on shares of Braze from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.65.

Braze Stock Performance

NASDAQ BRZE opened at $18.77 on Thursday. The stock has a 50-day simple moving average of $21.62 and a 200 day simple moving average of $27.01. Braze has a twelve month low of $15.26 and a twelve month high of $43.89. The stock has a market capitalization of $2.11 billion, a PE ratio of -17.06 and a beta of 1.08.

Braze (NASDAQ:BRZE) last released its earnings results on Tuesday, December 9th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Braze had a negative return on equity of 17.87% and a negative net margin of 16.85%.The firm had revenue of $190.84 million for the quarter, compared to analyst estimates of $198.25 million. During the same quarter last year, the firm posted $0.02 EPS. The company’s revenue was up 25.5% on a year-over-year basis. As a group, equities research analysts forecast that Braze will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Braze news, insider Astha Malik sold 14,049 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total value of $237,849.57. Following the sale, the insider owned 205,289 shares of the company’s stock, valued at $3,475,542.77. The trade was a 6.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jonathan Hyman sold 7,391 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $125,129.63. Following the completion of the transaction, the chief technology officer owned 1,692,933 shares of the company’s stock, valued at approximately $28,661,355.69. This represents a 0.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 66,216 shares of company stock valued at $1,225,772 in the last ninety days. 18.20% of the stock is currently owned by insiders.

Institutional Trading of Braze

Institutional investors have recently made changes to their positions in the business. NBC Securities Inc. acquired a new position in Braze in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in Braze by 3,650.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock valued at $28,000 after purchasing an additional 803 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Braze by 173.3% during the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock valued at $39,000 after purchasing an additional 870 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Braze by 821.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after purchasing an additional 1,404 shares during the period. Finally, Quarry LP acquired a new position in shares of Braze in the 3rd quarter worth approximately $46,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

About Braze

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.