UBS Group Lowers Braze (NASDAQ:BRZE) Price Target to $48.00

Braze (NASDAQ:BRZE - Get Free Report) had its target price cut by analysts at UBS Group from $51.00 to $48.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price suggests a potential upside of 61.45% from the company's current price.

Several other research firms have also recently issued reports on BRZE. Cantor Fitzgerald initiated coverage on Braze in a research report on Tuesday. They issued an "overweight" rating and a $45.00 price objective for the company. Citigroup increased their price objective on Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, March 28th. DA Davidson decreased their price objective on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Stephens decreased their price target on Braze from $51.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.60.

Braze Stock Performance

NASDAQ:BRZE traded down $6.37 during trading hours on Friday, hitting $29.73. The company's stock had a trading volume of 7,732,131 shares, compared to its average volume of 1,280,611. The business's 50-day moving average is $32.78 and its two-hundred day moving average is $37.97. The company has a market capitalization of $3.11 billion, a PE ratio of -26.08 and a beta of 1.22. Braze has a 52-week low of $27.45 and a 52-week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $162.06 million during the quarter, compared to analysts' expectations of $158.60 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. Braze's revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) earnings per share. As a group, analysts predict that Braze will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In other Braze news, CTO Jonathan Hyman sold 9,197 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $329,988.36. Following the sale, the chief technology officer now owns 214,024 shares of the company's stock, valued at $7,679,181.12. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 3,405 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $122,171.40. Following the completion of the sale, the chief accounting officer now directly owns 69,274 shares in the company, valued at $2,485,551.12. This trade represents a 4.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,150 shares of company stock valued at $2,540,814 in the last 90 days. 18.20% of the stock is currently owned by insiders.

Institutional Trading of Braze

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after purchasing an additional 517 shares in the last quarter. Quarry LP grew its holdings in shares of Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company's stock worth $29,000 after purchasing an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after purchasing an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Braze during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 90.47% of the company's stock.

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.