Stephens Cuts Braze (NASDAQ:BRZE) Price Target to $41.00

Braze (NASDAQ:BRZE - Get Free Report) had its price target dropped by equities research analysts at Stephens from $51.00 to $41.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Stephens' target price indicates a potential upside of 13.57% from the company's previous close.

Several other brokerages have also recently issued reports on BRZE. Cantor Fitzgerald began coverage on shares of Braze in a research report on Tuesday. They set an "overweight" rating and a $45.00 price target on the stock. Raymond James raised their price target on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Citigroup upped their price objective on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Wells Fargo & Company lowered their target price on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.15.

Braze Price Performance

NASDAQ:BRZE opened at $36.10 on Friday. The company's 50-day moving average is $32.91 and its two-hundred day moving average is $38.01. Braze has a 1-year low of $27.45 and a 1-year high of $48.33. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -31.67 and a beta of 1.22.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.07 earnings per share (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 firm had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. During the same period in the previous year, the firm earned ($0.05) EPS. Braze's revenue was up 19.6% on a year-over-year basis. As a group, equities analysts anticipate that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Susan Wiseman sold 5,143 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $184,530.84. Following the completion of the sale, the general counsel now directly owns 243,856 shares of the company's stock, valued at approximately $8,749,553.28. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $122,171.40. Following the completion of the transaction, the chief accounting officer now owns 69,274 shares in the company, valued at $2,485,551.12. This trade represents a 4.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,150 shares of company stock worth $2,540,814 in the last quarter. 18.20% of the stock is owned by insiders.

Institutional Trading of Braze

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings in shares of Braze by 1.4% during the first quarter. US Bancorp DE now owns 21,314 shares of the company's stock worth $769,000 after purchasing an additional 302 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Braze by 2.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock worth $559,000 after acquiring an additional 316 shares during the period. 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. IFP Advisors Inc boosted its holdings in shares of Braze by 15.3% in the first quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock valued at $122,000 after acquiring an additional 449 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after acquiring an additional 517 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Company Profile

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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