TD Cowen Issues Pessimistic Forecast for Braze (NASDAQ:BRZE) Stock Price

Key Points

• TD Cowen cut its price target on Braze from $43 to $30 but kept a "buy" rating, a target that still implies roughly a 57% upside from the current share price.
• The consensus remains a Moderate Buy (22 Buys, 1 Hold, 1 Sell) with an average target of $41.48, yet several firms have trimmed targets recently and BRZE trades at $19.07 with a negative PE, well below its 52-week high.
• Insiders have been selling recently (CTO and CAO transactions; 60,676 shares worth about $1.03M over 90 days) even as institutional ownership is high at ~90.5% and insiders hold ~18.2%.

Braze (NASDAQ:BRZE - Get Free Report) had its price target decreased by TD Cowen from $43.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's target price would indicate a potential upside of 57.34% from the company's current price.

A number of other analysts have also recently weighed in on BRZE. Piper Sandler cut their price target on Braze from $50.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, February 2nd. Citizens Jmp restated a "market outperform" rating and set a $68.00 price objective on shares of Braze in a research note on Wednesday, December 10th. Wolfe Research raised Braze to an "overweight" rating in a research report on Wednesday, December 10th. JPMorgan Chase & Co. cut their target price on Braze from $45.00 to $32.00 and set an "overweight" rating on the stock in a research note on Thursday, March 12th. Finally, Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Braze in a report on Wednesday, January 14th. Twenty-two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $41.48.

Braze Trading Down 0.7%

NASDAQ BRZE traded down $0.14 during trading hours on Friday, reaching $19.07. The company's stock had a trading volume of 489,898 shares, compared to its average volume of 2,859,477. The business has a 50-day simple moving average of $20.64 and a 200 day simple moving average of $26.79. Braze has a 52 week low of $15.26 and a 52 week high of $43.89. The stock has a market cap of $2.14 billion, a PE ratio of -17.34 and a beta of 1.08.

Insider Activity

In other Braze news, CTO Jonathan Hyman sold 7,391 shares of the business's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $125,129.63. Following the completion of the transaction, the chief technology officer owned 1,692,933 shares in the company, valued at approximately $28,661,355.69. The trade was a 0.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Pankaj Malik sold 2,893 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total value of $48,978.49. Following the completion of the transaction, the chief accounting officer directly owned 50,679 shares of the company's stock, valued at approximately $857,995.47. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,676 shares of company stock worth $1,027,661 over the last ninety days. 18.20% of the stock is currently owned by company insiders.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new position in Braze in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Braze by 3,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company's stock valued at $28,000 after buying an additional 803 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Braze by 821.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company's stock valued at $44,000 after acquiring an additional 1,404 shares during the last quarter. Quarry LP bought a new stake in shares of Braze during the 3rd quarter worth $46,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Braze by 58.2% during the 3rd quarter. Clearstead Advisors LLC now owns 1,685 shares of the company's stock worth $48,000 after acquiring an additional 620 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Company Profile

Braze, Inc is a publicly traded software company NASDAQ: BRZE that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze's platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.

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