Braze (NASDAQ:BRZE) Given New $43.00 Price Target at Raymond James

Braze (NASDAQ:BRZE) had its price objective cut by Raymond James from $48.00 to $43.00 in a research note published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently commented on BRZE. Barclays cut their price objective on Braze from $70.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Cantor Fitzgerald started coverage on Braze in a research report on Tuesday. They issued an “overweight” rating and a $45.00 price objective for the company. Citigroup boosted their price objective on Braze from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Stephens dropped their price target on Braze from $51.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $68.00 price target on shares of Braze in a research report on Friday. One equities research analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Braze has a consensus rating of “Moderate Buy” and an average target price of $46.60.

Braze Price Performance

Braze stock opened at $29.73 on Friday. The stock has a market capitalization of $3.11 billion, a PE ratio of -26.08 and a beta of 1.22. Braze has a 12 month low of $27.45 and a 12 month high of $48.33. The business has a 50 day simple moving average of $32.78 and a 200-day simple moving average of $37.97.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $162.06 million during the quarter, compared to analysts’ expectations of $158.60 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. On average, equities research analysts anticipate that Braze will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Braze

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

Institutional Trading of Braze

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in Braze by 168.0% in the 4th 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 in the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 517 shares during the last quarter. Quarry LP lifted its stake in shares of Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after purchasing an additional 595 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake 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 valued at $35,000 after purchasing an additional 827 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares during the last quarter. 90.47% of the stock is currently 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.