JPMorgan Chase & Co. Cuts Braze (NASDAQ:BRZE) Price Target to $32.00

Braze (NASDAQ:BRZE) had its price objective cut by JPMorgan Chase & Co. from $45.00 to $32.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently weighed in on BRZE. DA Davidson increased their price target on shares of Braze from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. The Goldman Sachs Group decreased their price objective on shares of Braze from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Wednesday, January 14th. Mizuho increased their price objective on shares of Braze from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company raised their target price on shares of Braze from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.65.

Braze Stock Performance

Shares of BRZE stock opened at $18.77 on Thursday. Braze has a fifty-two week low of $15.26 and a fifty-two week high of $43.89. The firm has a market capitalization of $2.11 billion, a PE ratio of -17.06 and a beta of 1.08. The stock’s 50-day simple moving average is $21.62 and its 200-day simple moving average is $27.02.

Insider Buying and Selling at Braze

In related news, General Counsel Susan Wiseman sold 4,167 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $17.03, for a total value of $70,964.01. Following the completion of the transaction, the general counsel directly owned 209,864 shares in the company, valued at $3,573,983.92. The trade was a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Pankaj Malik sold 2,893 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $48,978.49. Following the sale, the chief accounting officer directly owned 50,679 shares in the company, valued at $857,995.47. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 66,216 shares of company stock worth $1,225,772. 18.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Braze by 3,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock worth $28,000 after acquiring an additional 803 shares during the period. Invesco Ltd. grew its position in shares of Braze by 9.5% during the 4th quarter. Invesco Ltd. now owns 97,486 shares of the company’s stock valued at $3,343,000 after acquiring an additional 8,495 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Braze by 7.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 22,878 shares of the company’s stock valued at $784,000 after purchasing an additional 1,582 shares in the last quarter. Papamarkou Wellner Asset Management inc. purchased a new position in shares of Braze in the 4th quarter valued at about $331,000. Finally, XTX Topco Ltd raised its holdings in Braze by 212.3% in the 4th quarter. XTX Topco Ltd now owns 22,517 shares of the company’s stock worth $772,000 after purchasing an additional 15,306 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.