Braze (NASDAQ:BRZE) Price Target Lowered to $40.00 at Piper Sandler

Braze (NASDAQ:BRZE) had its price objective trimmed by Piper Sandler from $51.00 to $40.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also issued research reports about the stock. TD Cowen dropped their price target on shares of Braze from $52.00 to $45.00 and set a buy rating on the stock in a research report on Tuesday, September 24th. JMP Securities restated a market outperform rating and issued a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th. Scotiabank upgraded Braze from a sector perform rating to a sector outperform rating and increased their price target for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. DA Davidson cut their price objective on Braze from $65.00 to $55.00 and set a buy rating for the company in a research report on Tuesday, September 24th. Finally, UBS Group decreased their target price on Braze from $56.00 to $51.00 and set a buy rating on the stock in a research report on Wednesday, September 25th. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $58.53.

Braze Price Performance

NASDAQ BRZE opened at $30.71 on Thursday. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The company has a market capitalization of $3.12 billion, a PE ratio of -23.99 and a beta of 1.03. The company has a fifty day moving average of $37.64 and a 200 day moving average of $39.21.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) EPS. Research analysts expect that Braze will post -1.02 earnings per share for the current year.

Insider Activity at Braze

In other Braze news, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the transaction, the director now directly owns 8,937 shares of the company’s stock, valued at $273,919.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Magnuson sold 17,840 shares of Braze stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $738,040.80. Following the sale, the chief executive officer now owns 600,749 shares of the company’s stock, valued at approximately $24,852,986.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,403 shares of company stock valued at $7,811,946. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning lifted its stake in Braze by 12.8% during the 3rd quarter. Creative Planning now owns 26,089 shares of the company’s stock worth $844,000 after acquiring an additional 2,968 shares in the last quarter. Congress Park Capital LLC increased its stake in Braze by 4.5% during the third quarter. Congress Park Capital LLC now owns 38,955 shares of the company’s stock worth $1,260,000 after purchasing an additional 1,671 shares during the period. Diversified Trust Co lifted its position in shares of Braze by 4.1% during the third quarter. Diversified Trust Co now owns 26,697 shares of the company’s stock worth $863,000 after purchasing an additional 1,050 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Braze in the third quarter valued at approximately $634,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Braze in the second quarter valued at approximately $10,166,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.