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

Braze (NASDAQ:BRZE) had its target price lowered by Stephens from $51.00 to $41.00 in a report released on Friday morning,Benzinga reports. Stephens currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Barclays dropped their price objective on Braze from $70.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Raymond James increased their price objective on shares of Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, March 28th. Canaccord Genuity Group raised their target price on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 28th. Citigroup upped their price target on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Finally, Cantor Fitzgerald initiated coverage on shares of Braze in a research report on Tuesday, June 3rd. They set an “overweight” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and an average price target of $46.60.

Braze Stock Performance

Shares of Braze stock opened at $29.73 on Friday. The firm has a 50-day moving average of $32.78 and a 200-day moving average of $37.98. Braze has a 52-week low of $27.45 and a 52-week high of $48.33. The stock has a market cap of $3.11 billion, a PE ratio of -26.08 and a beta of 1.22.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $158.60 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts predict that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Braze

In other news, CTO Jonathan Hyman sold 9,197 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $329,988.36. Following the transaction, the chief technology officer now owns 214,024 shares in the company, valued at approximately $7,679,181.12. The trade was a 4.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at approximately $633,052.74. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,150 shares of company stock worth $2,540,814. Company insiders own 18.20% of the company’s stock.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC lifted its stake in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after buying an additional 517 shares during the period. Quarry LP lifted its stake in Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after buying an additional 595 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after buying an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Braze during the 1st quarter worth approximately $36,000. Institutional investors own 90.47% of the company’s stock.

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.