DA Davidson Issues Pessimistic Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price objective reduced by equities researchers at DA Davidson from $50.00 to $40.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 37.88% from the company’s current price.

A number of other research analysts have also recently commented on BRZE. Raymond James upped their price objective on Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, March 28th. Citigroup increased their price target on Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 28th. William Blair restated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Canaccord Genuity Group increased their target price on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $52.50.

Braze Trading Up 2.4 %

Shares of NASDAQ BRZE opened at $29.01 on Monday. The company has a 50-day moving average of $36.03 and a 200 day moving average of $37.72. Braze has a 12-month low of $27.75 and a 12-month high of $48.33. The stock has a market cap of $3.04 billion, a PE ratio of -25.45 and a beta of 1.13.

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

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 4,167 shares of Braze stock in a transaction on Friday, April 4th. The shares were sold at an average price of $30.98, for a total transaction of $129,093.66. Following the sale, the general counsel now directly owns 248,999 shares in the company, valued at $7,713,989.02. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jonathan Hyman sold 5,210 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the sale, the chief technology officer now directly owns 157,810 shares of the company’s stock, valued at approximately $6,441,804.20. This trade represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,937 shares of company stock valued at $2,707,581 in the last ninety days. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV lifted its position in Braze by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock worth $559,000 after acquiring an additional 316 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Braze by 3.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after purchasing an additional 346 shares during the period. Tower Research Capital LLC TRC raised its stake 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 worth $27,000 after purchasing an additional 405 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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. Finally, Aster Capital Management DIFC Ltd grew its position in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after buying an additional 827 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.