DA Davidson Lowers Braze (NASDAQ:BRZE) Price Target to $55.00

Braze (NASDAQ:BRZE) had its price objective reduced by stock analysts at DA Davidson from $65.00 to $55.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 72.14% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Raymond James reduced their target price on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, June 7th. Barclays cut their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Oppenheimer lowered their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday. Loop Capital restated a “buy” rating and issued a $75.00 price target on shares of Braze in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Braze in a research note on Tuesday. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $59.82.

Braze Stock Down 7.7 %

Shares of BRZE traded down $2.68 during trading hours on Tuesday, reaching $31.95. 757,568 shares of the company traded hands, compared to its average volume of 983,877. Braze has a 12 month low of $31.80 and a 12 month high of $61.53. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -25.21 and a beta of 1.07. The company’s fifty day moving average price is $40.38 and its two-hundred day moving average price is $41.22.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The business’s revenue was up 26.4% compared to the same quarter last year. On average, analysts expect that Braze will post -1.05 EPS for the current year.

Insider Activity

In related news, CAO Pankaj Malik sold 2,262 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $38.14, for a total transaction of $86,272.68. Following the completion of the sale, the chief accounting officer now owns 74,361 shares in the company, valued at $2,836,128.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Pankaj Malik sold 2,262 shares of Braze stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $38.14, for a total value of $86,272.68. Following the sale, the chief accounting officer now directly owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the completion of the sale, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The disclosure for this sale can be found here. Insiders have sold 188,727 shares of company stock worth $8,140,693 over the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several institutional investors have recently added to or reduced their stakes in BRZE. 1832 Asset Management L.P. raised its holdings in shares of Braze by 537.4% in the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after buying an additional 1,287,500 shares during the period. Norges Bank bought a new position in Braze in the fourth quarter worth approximately $37,584,000. Vanguard Group Inc. increased its holdings in Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after purchasing an additional 480,179 shares during the period. Granite Investment Partners LLC bought a new stake in Braze during the 2nd quarter valued at $12,925,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Braze in the 2nd quarter worth $10,166,000. 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.