Braze (NASDAQ:BRZE) PT Lowered to $51.00 at UBS Group

Braze (NASDAQ:BRZE) had its price target lowered by UBS Group from $56.00 to $51.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Barclays cut their target price 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. Piper Sandler reaffirmed an overweight rating and issued a $51.00 price target on shares of Braze in a research note on Friday, September 6th. Needham & Company LLC reissued a buy rating and set a $70.00 price objective on shares of Braze in a research report on Tuesday. Scotiabank raised Braze from a sector perform rating to a sector outperform rating and upped their target price for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Finally, Raymond James cut their price target on Braze from $65.00 to $55.00 and set an outperform rating for the company in a research note on Friday, June 7th. Eighteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze currently has an average rating of Buy and an average price target of $59.18.

Braze Trading Up 1.3 %

Shares of BRZE stock opened at $33.22 on Wednesday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -25.95 and a beta of 1.07. Braze has a 1-year low of $31.80 and a 1-year high of $61.53. The stock’s fifty day simple moving average is $39.73 and its 200-day simple moving average is $40.82.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.30) EPS. On average, sell-side analysts predict that Braze will post -1.02 EPS for the current year.

Insider Buying and Selling at Braze

In related news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction on Monday, July 1st. The shares were sold at an average price of $39.06, for a total value of $175,770.00. Following the transaction, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the completion of the sale, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 3,558 shares of Braze stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $38.41, for a total value of $136,662.78. Following the completion of the transaction, the general counsel now directly owns 221,840 shares in the company, valued at $8,520,874.40. The disclosure for this sale can be found here. Insiders have sold a total of 186,465 shares of company stock worth $8,054,420 over the last 90 days. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several large investors have recently bought and sold shares of BRZE. Principal Financial Group Inc. increased its stake in Braze by 24.9% during the fourth quarter. Principal Financial Group Inc. now owns 116,989 shares of the company’s stock valued at $6,216,000 after acquiring an additional 23,322 shares during the period. Norges Bank bought a new stake in shares of Braze during the fourth quarter valued at approximately $37,584,000. Assetmark Inc. acquired a new stake in Braze during the fourth quarter worth $580,000. US Bancorp DE increased its holdings in Braze by 2,518.1% in the 4th quarter. US Bancorp DE now owns 11,729 shares of the company’s stock valued at $623,000 after buying an additional 11,281 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Braze during the 4th quarter worth about $759,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.