Braze (NASDAQ:BRZE) Price Target Lowered to $55.00 at Piper Sandler

Braze (NASDAQ:BRZEFree Report) had its price target trimmed by Piper Sandler from $66.00 to $55.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

BRZE has been the topic of several other reports. DA Davidson reissued a buy rating and issued a $65.00 price target on shares of Braze in a report on Monday, March 25th. Needham & Company LLC reissued a buy rating and issued a $70.00 price target on shares of Braze in a report on Friday. TD Cowen lowered their price target on shares of Braze from $65.00 to $52.00 and set a buy rating on the stock in a report on Friday, May 31st. Raymond James lowered 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. Finally, William Blair reissued an outperform rating on shares of Braze in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Braze currently has an average rating of Moderate Buy and a consensus price target of $59.94.

Read Our Latest Analysis on BRZE

Braze Stock Performance

Shares of BRZE stock opened at $36.65 on Friday. The firm’s 50-day moving average is $41.15 and its 200-day moving average is $49.55. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -27.56 and a beta of 1.06. Braze has a 52-week low of $33.59 and a 52-week high of $61.53.

Braze (NASDAQ:BRZEGet Free Report) last issued its earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01. The company had revenue of $135.46 million for the quarter, compared to analysts’ expectations of $131.56 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. Sell-side analysts predict that Braze will post -1.18 EPS 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 that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the sale, the chief executive officer now owns 618,675 shares in the company, valued at approximately $25,835,868. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Braze news, Director Fernando Machado sold 2,361 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the sale, the director now owns 6,101 shares in the company, valued at $259,048.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Magnuson sold 17,839 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 618,675 shares in the company, valued at approximately $25,835,868. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,114 shares of company stock worth $3,344,997. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Hedge funds have recently added to or reduced their stakes in the stock. Fred Alger Management LLC acquired a new stake in Braze in the third quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new stake in Braze in the fourth quarter valued at approximately $40,000. Canton Hathaway LLC acquired a new stake in Braze in the fourth quarter valued at approximately $42,000. Covestor Ltd raised its stake in shares of Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after acquiring an additional 738 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares during the last quarter. Institutional investors and hedge funds 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.

See Also

Analyst Recommendations for Braze (NASDAQ:BRZE)

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