DA Davidson Cuts Braze (NASDAQ:BRZE) Price Target to $55.00

by · The Markets Daily

Braze (NASDAQ:BRZE – Free Report) had its target price reduced by DA Davidson from $65.00 to $55.00 in a report published on Tuesday, Benzinga reports. DA Davidson currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Needham & Company LLC reissued a buy rating and issued a $70.00 target price on shares of Braze in a report on Tuesday. Loop Capital reissued a buy rating and issued a $75.00 price objective on shares of Braze in a research note on Tuesday. JMP Securities restated a market outperform rating and set a $68.00 price objective on shares of Braze in a research report on Tuesday. Raymond James lowered their target price on shares of Braze from $65.00 to $55.00 and set an outperform rating on the stock in a report on Friday, June 7th. Finally, BTIG Research cut their price target on shares of Braze from $68.00 to $62.00 and set a buy rating for the company in a report on Friday, May 31st. Eighteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and an average target price of $59.18.

Read Our Latest Analysis on Braze

Braze Stock Performance

BRZE opened at $33.22 on Tuesday. The stock has a market capitalization of $3.38 billion, a P/E ratio of -25.95 and a beta of 1.07. Braze has a one year low of $31.80 and a one year high of $61.53. The business’s 50-day simple moving average is $39.73 and its 200-day simple moving average is $40.82.

Braze (NASDAQ:BRZE – Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) EPS. On average, equities research analysts forecast that Braze will post -1.02 EPS for the current fiscal year.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the sale, the general counsel now directly owns 206,930 shares in the company, valued at $9,104,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the sale, the general counsel now directly owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total value of $175,770.00. Following the sale, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The disclosure for this sale can be found here. Insiders sold 186,465 shares of company stock valued at $8,054,420 in the last 90 days. 24.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new stake in Braze during the 4th quarter worth approximately $40,000. Covestor Ltd grew its stake in Braze by 401.1% during the first 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 stake in shares of Braze in the second quarter worth $50,000. Comerica Bank raised its stake 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 acquiring an additional 276 shares during the period. Finally, Canton Hathaway LLC lifted its holdings in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after acquiring an additional 1,187 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Company Profile

(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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