Braze (NASDAQ:BRZE) Price Target Lowered to $38.00 at Oppenheimer

Braze (NASDAQ:BRZE - Get Free Report) had its target price lowered by research analysts at Oppenheimer from $44.00 to $38.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price target indicates a potential upside of 42.27% from the company's current price.

A number of other equities analysts have also recently weighed in on the company. Raymond James Financial cut their price target on Braze from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Braze in a research note on Friday, June 6th. Stifel Nicolaus set a $50.00 target price on shares of Braze and gave the company a "buy" rating in a report on Friday, March 28th. Macquarie decreased their price target on shares of Braze from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Finally, Canaccord Genuity Group boosted their price objective on shares of Braze from $45.00 to $50.00 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $46.30.

Braze Stock Performance

NASDAQ:BRZE traded down $0.03 during mid-day trading on Tuesday, hitting $26.71. 803,393 shares of the company's stock traded hands, compared to its average volume of 1,299,616. The company has a market cap of $2.82 billion, a PE ratio of -26.49 and a beta of 1.22. The firm's 50 day simple moving average is $31.86 and its 200 day simple moving average is $36.79. Braze has a 1 year low of $25.22 and a 1 year high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last released 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 16.76% and a negative return on equity of 18.89%. The business had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. During the same period in the prior year, the business earned ($0.05) earnings per share. The company's quarterly revenue was up 19.6% on a year-over-year basis. On average, research analysts expect that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 3,405 shares of the firm's stock in a transaction on Monday, May 19th. The shares were 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 trade represents a 4.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Magnuson sold 25,089 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 transaction of $900,193.32. Following the transaction, the chief executive officer now owns 745,769 shares in the company, 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. Over the last 90 days, insiders sold 69,650 shares of company stock valued at $2,478,624. Company insiders own 18.20% of the company's stock.

Institutional Trading of Braze

Several large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new stake in shares of Braze in the fourth quarter worth about $236,000. Handelsbanken Fonder AB lifted its position in Braze by 73.1% during the 4th quarter. Handelsbanken Fonder AB now owns 16,100 shares of the company's stock worth $674,000 after acquiring an additional 6,800 shares in the last quarter. Sincerus Advisory LLC acquired a new position in Braze during the 4th quarter worth approximately $854,000. Proficio Capital Partners LLC purchased a new position in Braze in the 4th quarter worth approximately $498,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Braze in the fourth quarter valued at approximately $47,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.