Braze (NASDAQ:BRZE) Price Target Lowered to $35.00 at Macquarie

Braze (NASDAQ:BRZE) had its target price cut by research analysts at Macquarie from $40.00 to $35.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Macquarie’s target price points to a potential upside of 17.73% from the company’s current price.

BRZE has been the subject of a number of other research reports. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Friday. 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 target for the company. Barclays lowered their price objective 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. Finally, Stephens reduced their price objective on shares of Braze from $51.00 to $41.00 and set an “overweight” rating for the company in a report on Friday. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.60.

Braze Trading Down 17.6%

NASDAQ:BRZE opened at $29.73 on Friday. Braze has a 12 month low of $27.45 and a 12 month high of $48.33. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -26.08 and a beta of 1.22. The firm has a fifty day simple moving average of $32.78 and a two-hundred day simple moving average of $37.98.

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

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 4,167 shares of Braze 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 sale, the general counsel now directly owns 248,999 shares in the company, valued at $7,713,989.02. The trade was a 1.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Magnuson sold 25,089 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $900,193.32. Following the completion of the transaction, the chief executive officer now directly owns 745,769 shares in the company, valued at $26,758,191.72. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,150 shares of company stock worth $2,540,814. Insiders own 18.20% of the company’s stock.

Institutional Trading of Braze

A number of large investors have recently added to or reduced their stakes in BRZE. Rhumbline Advisers boosted its stake in Braze by 6.3% in the first quarter. Rhumbline Advisers now owns 93,189 shares of the company’s stock valued at $3,362,000 after acquiring an additional 5,532 shares during the last quarter. Strs Ohio bought a new stake in shares of Braze in the 1st quarter worth approximately $220,000. Intech Investment Management LLC raised its holdings in shares of Braze by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 40,281 shares of the company’s stock worth $1,453,000 after purchasing an additional 6,379 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Braze in the first quarter valued at approximately $691,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Braze by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,224 shares of the company’s stock valued at $1,415,000 after purchasing an additional 1,700 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.