Braze (NASDAQ:BRZE) Price Target Lowered to $52.00 at TD Cowen

Braze (NASDAQ:BRZEFree Report) had its price objective trimmed by TD Cowen from $65.00 to $52.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Raymond James cut their price target on shares of Braze from $75.00 to $65.00 and set an outperform rating on the stock in a report on Thursday, March 28th. Needham & Company LLC reaffirmed a buy rating and issued a $70.00 price target on shares of Braze in a report on Thursday, March 28th. Wells Fargo & Company cut their price target on shares of Braze from $75.00 to $65.00 and set an overweight rating on the stock in a report on Monday, April 29th. BTIG Research dropped their target price on shares of Braze from $68.00 to $62.00 and set a buy rating on the stock in a report on Friday. Finally, Oppenheimer dropped their target price on shares of Braze from $75.00 to $60.00 and set an outperform rating on the stock in a report on Wednesday. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $61.71.

Read Our Latest Analysis on BRZE

Braze Price Performance

BRZE opened at $37.65 on Friday. The stock has a market capitalization of $3.80 billion, a PE ratio of -28.31 and a beta of 1.13. The firm’s fifty day moving average price is $42.43 and its 200 day moving average price is $49.97. Braze has a 12-month low of $30.83 and a 12-month high of $61.53.

Braze (NASDAQ:BRZEGet Free Report) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.02. The firm had revenue of $130.96 million for the quarter, compared to analysts’ expectations of $124.55 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. On average, equities research analysts forecast that Braze will post -1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Magnuson sold 17,839 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the completion of the transaction, the chief executive officer now owns 618,675 shares in the company, valued at approximately $25,835,868. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Myles Kleeger sold 9,177 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $383,231.52. Following the completion of the transaction, the insider now owns 221,906 shares in the company, valued at approximately $9,266,794.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Magnuson sold 17,839 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the transaction, the chief executive officer now owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The disclosure for this sale can be found here. Insiders have sold a total of 79,114 shares of company stock valued at $3,344,997 in the last quarter. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after buying an additional 148,366 shares in the last quarter. Morgan Stanley boosted its position in shares of Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after purchasing an additional 899,894 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Braze by 6.6% during the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock valued at $92,357,000 after purchasing an additional 128,645 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after purchasing an additional 1,287,500 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Braze by 167.5% during the 3rd quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock valued at $60,467,000 after purchasing an additional 810,295 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Braze (NASDAQ:BRZE)

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