Braze (NASDAQ:BRZE) Given New $45.00 Price Target at TD Cowen

Braze (NASDAQ:BRZE) had its price target decreased by stock analysts at TD Cowen from $52.00 to $45.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 40.85% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. JMP Securities restated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday. Oppenheimer decreased their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company 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. Barclays reduced their price objective on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, DA Davidson lowered their target price on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $59.82.

Braze Stock Down 7.7 %

Shares of NASDAQ BRZE traded down $2.68 during trading on Tuesday, hitting $31.95. The company had a trading volume of 757,568 shares, compared to its average volume of 983,877. The stock has a fifty day simple moving average of $40.38 and a two-hundred day simple moving average of $41.22. Braze has a fifty-two week low of $31.80 and a fifty-two week high of $61.53. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -25.21 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, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $141.32 million. During the same quarter last year, the business posted ($0.30) earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, analysts anticipate that Braze will post -1.05 earnings per share for the current year.

Insider Activity at Braze

In other Braze news, CAO Pankaj Malik sold 2,262 shares of the stock in a transaction that occurred on 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 directly owns 74,361 shares of the company’s stock, valued at approximately $2,836,128.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Pankaj Malik sold 2,262 shares of the stock in a transaction on 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 directly owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $39.06, for a total transaction of $175,770.00. Following the completion of the transaction, the chief financial officer now directly owns 242,627 shares in the company, valued at $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 in the last quarter. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new position in Braze during the 4th quarter worth approximately $40,000. Covestor Ltd boosted its stake in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after buying an additional 738 shares in the last quarter. Quarry LP acquired a new position in Braze during the second quarter worth $50,000. Comerica Bank raised its position 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 acquiring an additional 276 shares in the last quarter. Finally, Canton Hathaway LLC lifted its holdings in Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after acquiring an additional 1,187 shares during the period. Institutional investors and hedge funds 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.