Braze (NASDAQ:BRZE) Given New $38.00 Price Target at Oppenheimer

Braze (NASDAQ:BRZE) had its price objective decreased by Oppenheimer from $44.00 to $38.00 in a research report report published on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald started coverage on shares of Braze in a research note on Tuesday, June 3rd. They set an “overweight” rating and a $45.00 price objective for the company. Stephens set a $41.00 price objective on Braze and gave the stock an “overweight” rating in a research note on Friday, June 6th. Raymond James Financial dropped their price objective on shares of Braze from $48.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, June 6th. Wells Fargo & Company decreased their price target on Braze from $55.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays dropped their target price on shares of Braze from $70.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. One research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.30.

Braze Trading Up 3.0%

NASDAQ BRZE opened at $26.77 on Tuesday. The business’s 50 day moving average is $31.95 and its two-hundred day moving average is $36.97. Braze has a 12-month low of $25.22 and a 12-month high of $48.33. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -26.50 and a beta of 1.22.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The company had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Braze’s revenue was up 19.6% compared to the same quarter last year. Equities analysts forecast that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Braze news, General Counsel Susan Wiseman sold 4,167 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the transaction, the general counsel now owns 248,999 shares of the company’s stock, valued at approximately $7,713,989.02. This represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction on Friday, March 28th. The stock was sold at an average price of $41.46, for a total transaction of $62,190.00. Following the sale, the director now directly owns 15,269 shares of the company’s stock, valued at $633,052.74. This represents a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,150 shares of company stock worth $2,540,814 in the last 90 days. 18.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in 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 buying an additional 405 shares during the period. GAMMA Investing LLC raised its position in shares of Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after acquiring an additional 517 shares during the period. Quarry LP boosted its stake in Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company’s stock worth $29,000 after acquiring an additional 595 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after purchasing an additional 827 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Braze during the first quarter worth $36,000. 90.47% of the stock is currently owned by institutional investors.

Braze Company Profile

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.