UBS Group Cuts Braze (NASDAQ:BRZE) Price Target to $43.00

Braze (NASDAQ:BRZE) had its price target lowered by UBS Group from $48.00 to $43.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

BRZE has been the subject of a number of other research reports. Oppenheimer decreased their price objective on Braze from $44.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Raymond James Financial reduced their target price on shares of Braze from $48.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, June 6th. Cantor Fitzgerald lowered their price target on shares of Braze from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, August 29th. Macquarie cut their price objective on shares of Braze from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Braze in a research note on Friday. Twenty analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.85.

Braze Stock Performance

Braze stock opened at $31.42 on Friday. Braze has a fifty-two week low of $23.91 and a fifty-two week high of $48.33. The stock’s 50 day simple moving average is $27.32 and its two-hundred day simple moving average is $30.98. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -30.21 and a beta of 1.10.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 19.21% and a negative net margin of 16.62%.The firm had revenue of $162.06 million during the quarter, compared to analyst estimates of $158.60 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The business’s revenue was up 19.6% compared to the same quarter last year. On average, analysts predict that Braze will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Pankaj Malik sold 2,344 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $60,803.36. Following the completion of the transaction, the chief accounting officer directly owned 66,930 shares in the company, valued at $1,736,164.20. The trade was a 3.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Astha Malik sold 13,049 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $338,491.06. Following the completion of the transaction, the insider directly owned 236,930 shares in the company, valued at $6,145,964.20. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,354 shares of company stock valued at $1,914,998. 18.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BRZE. Tower Research Capital LLC TRC lifted its holdings in shares of Braze by 168.0% during 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 in the last quarter. GAMMA Investing LLC raised its position in Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after buying an additional 517 shares during the last quarter. Quarry LP lifted its stake in Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after acquiring an additional 595 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Braze during the 1st quarter valued at about $36,000. Finally, SBI Securities Co. Ltd. grew its stake in shares of Braze by 173.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock worth $39,000 after acquiring an additional 870 shares during the period. Hedge funds and other 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.