Braze (NASDAQ:BRZE) Price Target Lowered to $47.00 at Barclays

Braze (NASDAQ:BRZE) had its target price decreased by Barclays from $70.00 to $47.00 in a research report report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group raised their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Raymond James raised their price target on shares of Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Piper Sandler dropped their price target on shares of Braze from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Citigroup raised their price target on shares of Braze from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Braze currently has an average rating of “Buy” and an average target price of $50.10.

Braze Stock Up 1.4%

Shares of NASDAQ BRZE opened at $36.89 on Friday. The firm’s 50-day moving average price is $33.09 and its two-hundred day moving average price is $37.93. Braze has a 52-week low of $27.45 and a 52-week high of $48.33. The stock has a market capitalization of $3.86 billion, a P/E ratio of -32.36 and a beta of 1.15.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million for the quarter, compared to analysts’ expectations of $155.72 million. During the same quarter last year, the company posted ($0.04) earnings per share. Braze’s revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts expect that Braze will post -0.98 earnings per share for the current year.

Insider Activity

In related news, 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 directly owns 248,999 shares in the company, valued at approximately $7,713,989.02. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total transaction of $61,950.00. Following the completion of the sale, the director now owns 15,269 shares of the company’s stock, valued at $630,609.70. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,937 shares of company stock worth $2,235,381 in the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in Braze during the first quarter valued at about $691,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 acquiring an additional 1,700 shares during the period. Alyeska Investment Group L.P. bought a new stake in Braze during the first quarter valued at about $800,000. Cubist Systematic Strategies LLC bought a new stake in Braze during the first quarter valued at about $4,210,000. Finally, Quarry LP boosted its holdings in Braze by 296.0% during the first 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. 90.47% of the stock is currently owned by 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.