Braze (NASDAQ:BRZE) PT Lowered to $45.00 at TD Cowen

Braze (NASDAQ:BRZE) had its price objective trimmed by TD Cowen from $52.00 to $45.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on BRZE. Oppenheimer cut their price target on shares of Braze from $60.00 to $51.00 and set an outperform rating for the company in a report on Tuesday. Raymond James decreased their target price on shares of Braze from $65.00 to $55.00 and set an outperform rating for the company in a report on Friday, June 7th. Loop Capital reissued a buy rating and issued a $75.00 price target on shares of Braze in a research report on Tuesday. Barclays reduced their price target 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. Finally, Scotiabank raised shares of Braze from a sector perform rating to a sector outperform rating and raised their price objective for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $59.18.

Braze Stock Performance

Braze stock opened at $32.78 on Tuesday. The company has a 50-day simple moving average of $39.87 and a 200-day simple moving average of $40.96. The firm has a market capitalization of $3.33 billion, a P/E ratio of -25.61 and a beta of 1.07. Braze has a one year low of $31.80 and a one year high of $61.53.

Braze (NASDAQ:BRZE) 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 business had revenue of $145.50 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) earnings per share. As a group, sell-side analysts forecast that Braze will post -1.02 earnings per share for the current year.

Insider Transactions at Braze

In other news, CAO Pankaj Malik sold 1,381 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $41.12, for a total value of $56,786.72. Following the sale, the chief accounting officer now owns 72,980 shares in the company, valued at $3,000,937.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Braze news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction 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 transaction, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at $9,477,010.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 1,381 shares of Braze stock in a transaction on Monday, July 15th. The shares were sold at an average price of $41.12, for a total value of $56,786.72. Following the transaction, the chief accounting officer now directly owns 72,980 shares of the company’s stock, valued at $3,000,937.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,465 shares of company stock worth $8,054,420. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BRZE. Neo Ivy Capital Management bought a new position in shares of Braze in the fourth quarter valued at about $40,000. Covestor Ltd grew its position 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 buying an additional 738 shares during the period. Quarry LP acquired a new position in shares of Braze during the 2nd quarter worth about $50,000. Comerica Bank grew its position in shares of Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the period. Finally, Canton Hathaway LLC grew its position in shares of Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after purchasing an additional 1,187 shares during the period. 90.47% of the stock is owned by institutional investors.

Braze Company Profile

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.