Oppenheimer Has Lowered Expectations for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE - Get Free Report) had its price objective cut by stock analysts at Oppenheimer from $44.00 to $38.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price objective would indicate a potential upside of 43.40% from the stock's current price.

Several other equities analysts have also issued reports on the stock. Stephens set a $41.00 price target on shares of Braze and gave the company an "overweight" rating in a report on Friday, June 6th. JPMorgan Chase & Co. lowered their price target on Braze from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, June 6th. Macquarie dropped their price target on Braze from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Braze in a report on Friday, June 6th. Finally, Loop Capital cut their price target on shares of Braze from $75.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, Braze has a consensus rating of "Moderate Buy" and an average target price of $46.30.

Braze Trading Down 1.0%

Shares of NASDAQ:BRZE traded down $0.27 during midday trading on Tuesday, hitting $26.50. The company had a trading volume of 1,463,881 shares, compared to its average volume of 1,306,301. Braze has a 12 month low of $25.22 and a 12 month high of $48.33. The firm has a fifty day simple moving average of $31.95 and a 200 day simple moving average of $36.97. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -26.24 and a beta of 1.22.

Braze (NASDAQ:BRZE - Get Free Report) last posted its earnings results 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 company had revenue of $162.06 million during the quarter, compared to analyst estimates of $158.60 million. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. Equities analysts forecast that Braze will post -0.98 EPS for the current fiscal year.

Insider Activity at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the sale, the director now owns 15,269 shares in the company, valued at $633,052.74. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 3,405 shares of the business'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 $122,171.40. Following the transaction, the chief accounting officer now owns 69,274 shares in the company, valued at $2,485,551.12. This represents a 4.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,150 shares of company stock valued at $2,540,814. 18.20% of the stock is owned by corporate insiders.

Institutional Trading of Braze

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted 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 purchasing an additional 405 shares during the period. GAMMA Investing LLC lifted its stake 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 buying an additional 517 shares during the last quarter. Quarry LP lifted its stake 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 buying an additional 595 shares during the last quarter. Aster Capital Management DIFC Ltd grew its stake in Braze by 9,188.9% in 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 during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after acquiring an additional 928 shares during the period. 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.