Braze (NASDAQ:BRZE) Price Target Lowered to $45.00 at Loop Capital

Braze (NASDAQ:BRZE - Free Report) had its target price cut by Loop Capital from $75.00 to $45.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus set a $50.00 target price on shares of Braze and gave the stock a "buy" rating in a research report on Friday, March 28th. Canaccord Genuity Group lifted their target price on shares of Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Macquarie cut their target price on shares of Braze from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday. JMP Securities reissued a "market outperform" rating and issued a $68.00 price objective on shares of Braze in a research report on Friday. Finally, Citigroup boosted their price objective on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.60.

Braze Stock Performance

BRZE stock traded down $6.37 during trading on Friday, reaching $29.73. 7,732,131 shares of the company were exchanged, compared to its average volume of 1,280,621. The company has a market cap of $3.11 billion, a P/E ratio of -26.08 and a beta of 1.22. The stock's 50 day moving average price is $32.78 and its 200 day moving average price is $37.97. Braze has a 52-week low of $27.45 and a 52-week 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The company had revenue of $162.06 million during the quarter, compared to analysts' expectations of $158.60 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. As a group, equities research analysts forecast that Braze will post -0.98 EPS for the current year.

Insider Buying and Selling

In related news, Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the transaction, the director now owns 15,269 shares of the company's stock, valued at approximately $633,052.74. This represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 4,167 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the transaction, the general counsel now directly owns 248,999 shares of the company's stock, valued at $7,713,989.02. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,150 shares of company stock valued at $2,540,814. Insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On Braze

Institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new stake in Braze during the fourth quarter worth approximately $498,000. Thrivent Financial for Lutherans purchased a new stake in Braze during the fourth quarter worth approximately $708,000. Barclays PLC grew its stake in Braze by 148.1% during the third quarter. Barclays PLC now owns 107,358 shares of the company's stock worth $3,472,000 after buying an additional 64,093 shares during the period. Pictet Asset Management Holding SA grew its stake in Braze by 27.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock worth $374,000 after buying an additional 1,938 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Braze during the fourth quarter worth approximately $549,000. 90.47% of the stock is currently owned by hedge funds and other 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.