Canaccord Genuity Group Lowers Braze (NASDAQ:BRZE) Price Target to $47.00

Braze (NASDAQ:BRZEGet Rating) had its price target dropped by equities research analysts at Canaccord Genuity Group from $60.00 to $47.00 in a research note issued to investors on Tuesday, The Fly reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 59.86% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on BRZE. JPMorgan Chase & Co. decreased their price objective on Braze from $65.00 to $42.00 in a report on Tuesday. Canaccord Genuity Group decreased their price target on Braze from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, March 31st. Piper Sandler decreased their price target on Braze from $65.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays decreased their price target on Braze from $95.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, April 1st. Finally, Cowen decreased their price target on Braze to $72.00 in a research note on Friday, May 27th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $58.36.

Shares of BRZE opened at $29.40 on Tuesday. The stock has a 50-day moving average price of $36.80 and a 200-day moving average price of $48.70. Braze has a 12-month low of $27.09 and a 12-month high of $98.78.

Braze (NASDAQ:BRZEGet Rating) last announced its quarterly earnings data on Monday, June 13th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. On average, equities analysts forecast that Braze will post -1.77 earnings per share for the current year.

In related news, major shareholder Iconiq Strategic Partners Vi, bought 17,172 shares of the company’s stock in a transaction on Friday, April 8th. The shares were acquired at an average cost of $37.58 per share, with a total value of $645,323.76. Following the completion of the acquisition, the insider now owns 322,390 shares of the company’s stock, valued at approximately $12,115,416.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 5,943 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $31.53, for a total value of $187,382.79. Following the completion of the sale, the chief accounting officer now directly owns 80,360 shares in the company, valued at $2,533,750.80. The disclosure for this sale can be found here. Insiders have purchased 308,867 shares of company stock worth $11,554,072 over the last 90 days. 32.14% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Braze by 50,225.0% during the first quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock valued at $83,000 after purchasing an additional 2,009 shares in the last quarter. Weiss Multi Strategy Advisers LLC increased its position in Braze by 85.2% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 50,000 shares of the company’s stock valued at $2,074,000 after acquiring an additional 23,000 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Braze during the first quarter valued at $346,000. Ensign Peak Advisors Inc increased its position in Braze by 107.3% during the first quarter. Ensign Peak Advisors Inc now owns 37,875 shares of the company’s stock valued at $1,571,000 after acquiring an additional 19,606 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in Braze by 41.0% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 83,205 shares of the company’s stock valued at $3,451,000 after acquiring an additional 24,176 shares during the last quarter. 23.64% of the stock is currently owned by hedge funds and other institutional investors.

Braze Company Profile (Get Rating)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.

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