Braze (NASDAQ:BRZE) Price Target Raised to $47.00 at Piper Sandler

Braze (NASDAQ:BRZEGet Rating) had its target price hoisted by Piper Sandler from $42.00 to $47.00 in a research note released on Tuesday morning, Marketbeat reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the stock. Loop Capital decreased their price target on shares of Braze from $75.00 to $50.00 and set a buy rating on the stock in a research report on Wednesday, June 15th. Canaccord Genuity Group decreased their price objective on shares of Braze from $60.00 to $47.00 and set a buy rating on the stock in a research report on Tuesday, June 14th. Raymond James cut their target price on shares of Braze from $65.00 to $40.00 in a research note on Tuesday, June 14th. The Goldman Sachs Group cut their target price on shares of Braze from $65.00 to $56.00 and set a buy rating for the company in a research note on Wednesday, June 15th. Finally, Oppenheimer dropped their price objective on shares of Braze from $60.00 to $37.00 and set an outperform rating for the company in a research note on Tuesday, June 14th. Sixteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and an average target price of $54.00.

Braze Trading Down 19.3 %

NASDAQ:BRZE opened at $35.18 on Tuesday. The company’s 50 day moving average price is $44.09 and its 200-day moving average price is $39.81. Braze has a 52 week low of $27.09 and a 52 week high of $98.78.

Braze (NASDAQ:BRZEGet Rating) last issued its earnings results on Monday, September 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.04. The company had revenue of $86.13 million during the quarter, compared to analysts’ expectations of $81.16 million. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. Sell-side analysts expect that Braze will post -1.5 EPS for the current year.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 1,997 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $49.63, for a total value of $99,111.11. Following the transaction, the chief accounting officer now directly owns 78,363 shares of the company’s stock, valued at approximately $3,889,155.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Pankaj Malik sold 1,997 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $49.63, for a total transaction of $99,111.11. Following the transaction, the chief accounting officer now directly owns 78,363 shares of the company’s stock, valued at approximately $3,889,155.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jonathan Hyman sold 43,500 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $32.59, for a total transaction of $1,417,665.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,348 shares of company stock valued at $8,914,916. 32.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Braze

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in Braze by 50,225.0% in the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock valued at $83,000 after acquiring an additional 2,009 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Braze in the 4th quarter valued at about $206,000. JPMorgan Chase & Co. purchased a new position in Braze in the 2nd quarter valued at about $140,000. Laurion Capital Management LP purchased a new position in shares of Braze during the 4th quarter worth about $548,000. Finally, Malaga Cove Capital LLC purchased a new position in shares of Braze during the 1st quarter worth about $309,000. 39.38% of the stock is owned by institutional investors and hedge funds.

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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