Barclays Has Lowered Expectations for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price objective cut by investment analysts at Barclays from $70.00 to $47.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 27.41% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group lifted their price objective on Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Citigroup raised their target price on Braze from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Wells Fargo & Company decreased their price objective on Braze from $55.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. DA Davidson lowered their target price on shares of Braze from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Braze in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Braze has a consensus rating of “Buy” and an average target price of $50.10.

Braze Stock Performance

Shares of NASDAQ:BRZE opened at $36.89 on Friday. Braze has a 1 year low of $27.45 and a 1 year high of $48.33. The stock has a 50-day simple moving average of $33.09 and a 200-day simple moving average of $37.88. The stock has a market capitalization of $3.86 billion, a P/E ratio of -32.36 and a beta of 1.15.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.04) earnings per share. Analysts predict that Braze will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total transaction of $61,950.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at $630,609.70. The trade was a 8.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Susan Wiseman sold 3,925 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $160,218.50. Following the completion of the sale, the general counsel now directly owns 185,595 shares of the company’s stock, valued at $7,575,987.90. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,937 shares of company stock worth $2,235,381. 24.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Braze

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares during the last quarter. GAMMA Investing LLC lifted its stake in Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after purchasing an additional 517 shares during the period. Quarry LP boosted its stake in Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after buying an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after purchasing an additional 827 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Braze in the first quarter valued at about $36,000. Institutional investors 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.