Braze (NASDAQ:BRZE) Price Target Cut to $35.00 by Analysts at Barclays

Key Points

• Analysts at Barclays have reduced their price target for Braze from $43.00 to $35.00, while maintaining an "overweight" rating on the stock, indicating a potential upside of 35.12% from its last close.
• In recent earnings, Braze reported a revenue of $162.06 million and earnings per share of $0.07, surpassing analyst expectations.
• The current consensus rating for Braze among analysts is a "Moderate Buy," with a consensus target price of approximately $44.90, despite several recent price target adjustments downwards.

Braze (NASDAQ:BRZE - Get Free Report) had its target price cut by research analysts at Barclays from $43.00 to $35.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target points to a potential upside of 35.12% from the stock's previous close.

Several other analysts have also issued reports on the company. Cantor Fitzgerald began coverage on Braze in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $45.00 price objective for the company. UBS Group decreased their price target on Braze from $51.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. JMP Securities reiterated a "market outperform" rating and issued a $68.00 target price on shares of Braze in a research report on Friday, June 6th. Stephens set a $41.00 price target on Braze and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Wells Fargo & Company reduced their price target on Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Braze presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.90.

Braze Price Performance

Shares of NASDAQ BRZE traded up $0.40 during trading hours on Monday, reaching $25.90. The stock had a trading volume of 61,801 shares, compared to its average volume of 1,364,636. The business's fifty day moving average is $27.45 and its two-hundred day moving average is $32.57. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -25.66 and a beta of 1.10. Braze has a twelve month low of $23.91 and a twelve month high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The company had revenue of $162.06 million during the quarter, compared to analyst estimates of $158.60 million. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The firm's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. Sell-side analysts forecast that Braze will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 4,786 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $27.08, for a total transaction of $129,604.88. Following the transaction, the general counsel owned 239,655 shares of the company's stock, valued at approximately $6,489,857.40. This represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Astha Malik sold 9,001 shares of Braze stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $30.01, for a total transaction of $270,120.01. Following the completion of the transaction, the insider directly owned 249,979 shares in the company, valued at approximately $7,501,869.79. The trade was a 3.48% decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after acquiring an additional 405 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after acquiring an additional 517 shares during the last quarter. Quarry LP boosted its stake in shares of Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company's stock worth $29,000 after acquiring an additional 595 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Braze during the first quarter worth $36,000. Finally, SBI Securities Co. Ltd. boosted its stake in Braze by 173.3% during the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company's stock worth $39,000 after buying an additional 870 shares during the last quarter. 90.47% of the stock is currently 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.

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