Braze (NASDAQ:BRZE) PT Lowered to $50.00

Braze (NASDAQ:BRZEGet Free Report) had its price objective cut by investment analysts at Canaccord Genuity Group from $65.00 to $50.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 28.40% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Braze in a research note on Thursday, March 28th. Oppenheimer reiterated an “outperform” rating and issued a $75.00 price objective on shares of Braze in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their target price on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. Piper Sandler reissued an “overweight” rating and set a $66.00 price objective on shares of Braze in a research report on Friday, April 5th. Finally, UBS Group raised shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Thursday, March 21st. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.41.

Read Our Latest Research Report on BRZE

Braze Price Performance

Shares of BRZE opened at $38.94 on Monday. Braze has a 1 year low of $25.76 and a 1 year high of $61.53. The stock has a 50 day simple moving average of $50.39 and a two-hundred day simple moving average of $50.78. The firm has a market cap of $3.93 billion, a P/E ratio of -29.28 and a beta of 1.14.

Braze (NASDAQ:BRZEGet Free Report) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.02. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. The firm had revenue of $130.96 million during the quarter, compared to the consensus estimate of $124.55 million. On average, equities analysts anticipate that Braze will post -1.18 earnings per share for the current year.

Insider Activity at Braze

In other news, insider Myles Kleeger sold 15,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the sale, the insider now directly owns 244,291 shares of the company’s stock, valued at $13,914,815.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Braze news, General Counsel Susan Wiseman sold 2,838 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $57.52, for a total transaction of $163,241.76. Following the completion of the sale, the general counsel now directly owns 206,358 shares in the company, valued at approximately $11,869,712.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the transaction, the insider now owns 244,291 shares in the company, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. Insiders sold a total of 77,815 shares of company stock valued at $4,164,679 in the last 90 days. Corporate insiders own 26.48% of the company’s stock.

Hedge Funds Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after purchasing an additional 480,179 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after purchasing an additional 899,894 shares in the last quarter. BlackRock Inc. boosted its position in shares of Braze by 296.6% during the second quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock valued at $114,050,000 after buying an additional 1,947,831 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Braze by 12.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock worth $104,054,000 after buying an additional 263,250 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Braze by 62.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,090,100 shares of the company’s stock worth $111,047,000 after buying an additional 805,000 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

About Braze

(Get Free Report)

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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Analyst Recommendations for Braze (NASDAQ:BRZE)

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