Braze (NASDAQ:BRZE) Price Target Cut to $51.00 by Analysts at Oppenheimer

Braze (NASDAQ:BRZE) had its price objective reduced by investment analysts at Oppenheimer from $60.00 to $51.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 47.29% from the company’s current price.

Several other equities research analysts also recently weighed in on BRZE. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Braze in a research 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. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Raymond James reduced their price objective on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. Finally, BTIG Research lowered their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $60.82.

Braze Trading Down 4.9 %

NASDAQ BRZE opened at $34.63 on Tuesday. Braze has a 12 month low of $33.24 and a 12 month high of $61.53. The stock’s fifty day moving average price is $40.38 and its 200-day moving average price is $41.22. The stock has a market cap of $3.52 billion, a P/E ratio of -27.05 and a beta of 1.07.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. The company 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 revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.30) EPS. As a group, analysts forecast that Braze will post -1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 3,447 shares of Braze stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the transaction, the general counsel now owns 206,930 shares in the company, valued at approximately $9,104,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Braze news, CAO Pankaj Malik sold 2,262 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 74,361 shares in the company, valued at $2,836,128.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 3,447 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the transaction, the general counsel now directly owns 206,930 shares in the company, valued at approximately $9,104,920. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,727 shares of company stock worth $8,140,693. Company insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. M&G Plc purchased a new position in Braze during the first quarter valued at approximately $6,724,000. Occudo Quantitative Strategies LP purchased a new position in shares of Braze during the 4th quarter valued at $5,397,000. Vanguard Group Inc. boosted its holdings in Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after buying an additional 148,366 shares during the period. Silvercrest Asset Management Group LLC bought a new position in Braze in the 1st quarter worth $5,714,000. Finally, Swiss National Bank increased its stake in Braze by 14.3% in the 1st quarter. Swiss National Bank now owns 106,000 shares of the company’s stock worth $4,696,000 after buying an additional 13,300 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

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.