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

Braze (NASDAQ:BRZE - Free Report) had its price target decreased by Macquarie from $40.00 to $35.00 in a report published on Friday,Benzinga reports. Macquarie currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on BRZE. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the company a "buy" rating in a report on Friday, March 28th. Wells Fargo & Company reduced their price objective on shares of Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Barclays reduced their price objective on shares of Braze from $70.00 to $47.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. reduced their price objective on shares of Braze from $47.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Raymond James raised their price objective on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Braze currently has an average rating of "Moderate Buy" and a consensus target price of $46.60.

Braze Stock Down 17.6%

BRZE stock traded down $6.37 during midday trading on Friday, hitting $29.73. The company's stock had a trading volume of 7,732,131 shares, compared to its average volume of 1,280,621. Braze has a 52-week low of $27.45 and a 52-week high of $48.33. The firm has a market capitalization of $3.11 billion, a P/E ratio of -26.08 and a beta of 1.22. The firm has a 50-day simple moving average of $32.78 and a 200-day simple moving average of $37.97.

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

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 9,189 shares of Braze stock in a transaction on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $329,701.32. Following the transaction, the insider now directly owns 159,693 shares in the company, valued at approximately $5,729,784.84. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction 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 in the company, valued at approximately $633,052.74. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,150 shares of company stock worth $2,540,814. 18.20% of the stock is owned by company insiders.

Institutional Trading of Braze

Several hedge funds and other institutional investors have recently made changes to their positions in BRZE. Tower Research Capital LLC TRC boosted its holdings 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 valued at $27,000 after acquiring an additional 405 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after acquiring an additional 517 shares in the last quarter. Quarry LP boosted its holdings in shares of Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after acquiring an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after acquiring an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Braze in the first quarter valued at about $36,000. Hedge funds and other institutional investors 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.