Braze (NASDAQ:BRZE) Price Target Lowered to $44.00 at Oppenheimer

Braze (NASDAQ:BRZE - Get Free Report) had its price objective dropped by stock analysts at Oppenheimer from $51.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's target price would indicate a potential upside of 46.25% from the stock's current price.

A number of other research analysts have also issued reports on the stock. Stephens dropped their price objective on shares of Braze from $51.00 to $41.00 and set an "overweight" rating for the company in a report on Friday. Macquarie lowered their price objective on shares of Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday. JMP Securities reaffirmed a "market outperform" rating and issued a $68.00 price target on shares of Braze in a research note on Friday. Stifel Nicolaus set a $50.00 price target on Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Wells Fargo & Company decreased their price objective on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Braze currently has an average rating of "Moderate Buy" and a consensus price target of $46.60.

Braze Stock Performance

BRZE traded down $6.01 on Friday, reaching $30.09. The company had a trading volume of 3,804,318 shares, compared to its average volume of 1,238,168. The stock has a market cap of $3.15 billion, a P/E ratio of -26.39 and a beta of 1.22. Braze has a fifty-two week low of $27.45 and a fifty-two week high of $48.33. The company's fifty day moving average is $32.91 and its 200 day moving average is $38.01.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. During the same quarter last year, the company earned ($0.05) EPS. The company's revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts expect that Braze will post -0.98 EPS for the current year.

Insider Transactions at Braze

In other Braze news, CAO Pankaj Malik sold 3,405 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $122,171.40. Following the transaction, the chief accounting officer now owns 69,274 shares of the company's stock, valued at approximately $2,485,551.12. This represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Magnuson sold 25,089 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $900,193.32. Following the sale, the chief executive officer now directly owns 745,769 shares of the company's stock, valued at $26,758,191.72. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,150 shares of company stock worth $2,540,814 in the last ninety days. Insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in shares of Braze by 168.0% in 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 raised 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 buying an additional 517 shares during the period. Quarry LP lifted its position in shares of Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after buying an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position 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 valued at $35,000 after buying an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Braze during the 1st quarter valued at approximately $36,000. 90.47% of the stock is currently owned by 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.

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