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

Braze (NASDAQ:BRZE - Get Free Report) had its price objective reduced by Raymond James from $48.00 to $43.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Raymond James' price target suggests a potential upside of 42.92% from the company's current price.

Several other brokerages have also recently issued reports on BRZE. Barclays cut their target price 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. Stephens lowered their price objective on shares of Braze from $51.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday. Piper Sandler dropped their target price on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Canaccord Genuity Group upped their price target on 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 assigned a buy rating to the company. According to data from MarketBeat, Braze has a consensus rating of "Moderate Buy" and a consensus price target of $46.60.

Braze Stock Down 16.7%

NASDAQ:BRZE traded down $6.01 during mid-day trading on Friday, hitting $30.09. 3,804,318 shares of the stock traded hands, compared to its average volume of 1,238,168. The company has a market cap of $3.15 billion, a PE ratio of -26.39 and a beta of 1.22. Braze has a 12-month low of $27.45 and a 12-month high of $48.33. The business's 50-day moving average price is $32.91 and its 200 day moving average price is $38.01.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company's revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) EPS. Analysts anticipate that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Braze

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

Institutional Investors Weigh In On Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its stake in Braze by 6.3% in the first quarter. Rhumbline Advisers now owns 93,189 shares of the company's stock worth $3,362,000 after acquiring an additional 5,532 shares during the period. Strs Ohio bought a new stake in shares of Braze in the 1st quarter valued at about $220,000. Intech Investment Management LLC lifted its position in shares of Braze by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 40,281 shares of the company's stock worth $1,453,000 after purchasing an additional 6,379 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Braze during the first quarter valued at approximately $691,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Braze by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company's stock valued at $1,415,000 after purchasing an additional 1,700 shares in the last quarter. 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.

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