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

Braze (NASDAQ:BRZE - Free Report) had its target price cut by JPMorgan Chase & Co. from $47.00 to $45.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Raymond James upped their price objective on Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, March 28th. Canaccord Genuity Group upped their price objective on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the stock a "buy" rating in a research note on Friday, March 28th. UBS Group decreased their price objective on Braze from $51.00 to $48.00 and set a "buy" rating for the company in a research note on Friday. Finally, Barclays decreased their price objective on Braze from $70.00 to $47.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $46.60.

Braze Trading Up 3.1%

Shares of NASDAQ BRZE traded up $0.92 during trading hours on Friday, hitting $30.65. 3,234,356 shares of the company traded hands, compared to its average volume of 1,278,040. The company's 50 day moving average price is $32.66 and its 200 day moving average price is $37.92. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -26.89 and a beta of 1.22. Braze has a 12 month low of $27.45 and a 12 month high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $162.06 million during the quarter, compared to analysts' expectations of $158.60 million. During the same period in the prior year, the business earned ($0.05) EPS. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. Equities analysts anticipate that Braze will post -0.98 EPS for the current year.

Insider Buying and Selling

In related news, CTO Jonathan Hyman sold 9,197 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $329,988.36. Following the sale, the chief technology officer now directly owns 214,024 shares of the company's stock, valued at $7,679,181.12. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Susan Wiseman sold 4,167 shares of Braze stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $30.98, for a total value of $129,093.66. Following the completion of the sale, the general counsel now directly owns 248,999 shares in the company, valued at $7,713,989.02. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,150 shares of company stock valued at $2,540,814 over the last ninety days. Company insiders own 18.20% of the company's stock.

Hedge Funds Weigh In On Braze

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after buying an additional 405 shares in the last quarter. GAMMA Investing LLC lifted its position in Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after buying an additional 517 shares in the last quarter. Quarry LP lifted its position in Braze by 296.0% during the first quarter. Quarry LP now owns 796 shares of the company's stock worth $29,000 after buying an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after buying an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Braze during the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.47% of the company's stock.

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.