Piper Sandler Trims Braze (NASDAQ:BRZE) Target Price to $40.00

by · The Markets Daily

Braze (NASDAQ:BRZE – Free Report) had its target price lowered by Piper Sandler from $51.00 to $40.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently commented on BRZE. TD Cowen decreased their target price on Braze from $52.00 to $45.00 and set a buy rating on the stock in a report on Tuesday, September 24th. JMP Securities restated a market outperform rating and issued a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Scotiabank raised shares of Braze from a sector perform rating to a sector outperform rating and boosted their target price for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. DA Davidson decreased their price target on shares of Braze from $65.00 to $55.00 and set a buy rating on the stock in a research note on Tuesday, September 24th. Finally, Barclays dropped their price objective on shares of Braze from $80.00 to $70.00 and set an overweight rating for the company in a research report on Monday, August 26th. Eighteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $58.53.

Check Out Our Latest Report on BRZE

Braze Stock Performance

BRZE opened at $30.71 on Thursday. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -23.99 and a beta of 1.03. The firm’s 50-day simple moving average is $37.64 and its 200-day simple moving average is $39.29. Braze has a twelve month low of $29.18 and a twelve month high of $61.53.

Braze (NASDAQ:BRZE – Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) earnings per share. As a group, sell-side analysts anticipate that Braze will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Braze news, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Braze news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total value of $144,540.00. Following the transaction, the chief financial officer now owns 216,208 shares of the company’s stock, valued at approximately $6,944,600.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Fernando Machado sold 1,377 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the sale, the director now directly owns 8,937 shares of the company’s stock, valued at $273,919.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,284 shares of company stock valued at $7,928,732. 24.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Braze

A number of large investors have recently added to or reduced their stakes in BRZE. Neo Ivy Capital Management acquired a new position in shares of Braze during the fourth quarter worth about $40,000. Covestor Ltd grew its stake in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares in the last quarter. Comerica Bank grew its stake in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares in the last quarter. Quarry LP acquired a new stake in shares of Braze in the second quarter valued at approximately $50,000. Finally, RiverPark Advisors LLC lifted its position in shares of Braze by 360.9% in the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

About Braze

(Get Free Report)

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.

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