The Goldman Sachs Group Issues Pessimistic Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price objective decreased by The Goldman Sachs Group from $65.00 to $47.00 in a research report report published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. Barclays decreased their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Piper Sandler decreased their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Oppenheimer decreased their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, Braze has an average rating of “Moderate Buy” and an average price target of $54.47.

Braze Price Performance

Shares of BRZE opened at $35.06 on Tuesday. The firm’s 50 day simple moving average is $32.83 and its 200 day simple moving average is $37.63. The company has a market capitalization of $3.60 billion, a P/E ratio of -29.71 and a beta of 1.03. Braze has a 1-year low of $29.18 and a 1-year high of $61.53.

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

Insider Activity at Braze

In related news, General Counsel Susan Wiseman sold 3,577 shares of Braze stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $43.58, for a total value of $155,885.66. Following the sale, the general counsel now owns 206,930 shares in the company, valued at $9,018,009.40. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Isabelle Winkles sold 4,091 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $43.28, for a total transaction of $177,058.48. Following the sale, the chief financial officer now owns 230,329 shares in the company, valued at approximately $9,968,639.12. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,252 shares of company stock worth $5,977,839 over the last quarter. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Hedge funds have recently modified their holdings of the business. M&G Plc bought a new stake in shares of Braze during the 1st quarter valued at $6,724,000. Point72 Asset Management L.P. bought a new stake in shares of Braze during the 2nd quarter valued at $10,166,000. Vanguard Group Inc. boosted its holdings in shares of Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after buying an additional 148,366 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in Braze in the 1st quarter worth about $5,714,000. Finally, Mackenzie Financial Corp bought a new position in Braze in the 2nd quarter worth about $971,000. 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.