The Goldman Sachs Group Has Lowered Expectations for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price objective decreased by analysts at The Goldman Sachs Group from $65.00 to $47.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 28.38% from the company’s current price.

BRZE has been the topic of several other reports. Oppenheimer lowered their target price on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Braze in a report on Tuesday, September 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Barclays lowered their target price 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. Finally, Macquarie started coverage on shares of Braze in a research note on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target for the company. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Braze has an average rating of “Moderate Buy” and an average target price of $54.47.

Braze Trading Up 2.5 %

Shares of BRZE opened at $36.61 on Tuesday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -31.03 and a beta of 1.03. Braze has a 52 week low of $29.18 and a 52 week high of $61.53. The stock has a 50 day moving average of $32.99 and a 200-day moving average of $37.69.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the prior year, the company earned ($0.30) earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts predict that Braze will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In related news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction that occurred on 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 $273,919.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,658 shares of company stock valued at $7,980,396 in the last quarter. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently made changes to their positions in the company. Covestor Ltd boosted its holdings in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares in the last quarter. Quarry LP bought a new position in Braze in the 2nd quarter valued at $50,000. Comerica Bank boosted its stake in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares in the last quarter. KBC Group NV grew its holdings in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares in the last quarter. Institutional investors and hedge funds 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.