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

Braze (NASDAQ:BRZE - Get Free Report) had its target price lowered by equities research analysts at Piper Sandler from $51.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 33.65% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC restated a "buy" rating and set a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Barclays cut their price target on Braze from $80.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, August 26th. Oppenheimer decreased their price objective on Braze from $60.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, September 24th. DA Davidson cut their target price on Braze from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, September 24th. Finally, TD Cowen decreased their price target on shares of Braze from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, September 24th. Eighteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze has an average rating of "Buy" and an average price target of $58.53.

Braze Stock Down 0.3 %

Braze stock traded down $0.08 during mid-day trading on Thursday, hitting $29.93. 1,565,728 shares of the company's stock were exchanged, compared to its average volume of 1,015,475. The company's 50 day simple moving average is $38.05 and its 200-day simple moving average is $39.57. The firm has a market capitalization of $3.04 billion, a P/E ratio of -23.45 and a beta of 1.03. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the firm posted ($0.30) earnings per share. Braze's revenue was up 26.4% compared to the same quarter last year. Research analysts expect that Braze will post -1.02 EPS for the current year.

Insider Buying and Selling at Braze

In related news, Director Fernando Machado sold 1,377 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the transaction, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Braze news, Director Fernando Machado sold 1,377 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Pankaj Malik sold 1,381 shares of the business's stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $41.12, for a total transaction of $56,786.72. Following the completion of the sale, the chief accounting officer now directly owns 72,980 shares of the company's stock, valued at approximately $3,000,937.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,284 shares of company stock valued at $7,928,732 in the last quarter. 24.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Congress Park Capital LLC grew its position in Braze by 4.5% during the third quarter. Congress Park Capital LLC now owns 38,955 shares of the company's stock worth $1,260,000 after buying an additional 1,671 shares in the last quarter. Diversified Trust Co lifted its position in shares of Braze by 4.1% during the 3rd quarter. Diversified Trust Co now owns 26,697 shares of the company's stock valued at $863,000 after acquiring an additional 1,050 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Braze during the 3rd quarter worth $634,000. Point72 Asset Management L.P. bought a new position in shares of Braze in the second quarter worth $10,166,000. Finally, Quarry LP acquired a new position in Braze in the second quarter valued at about $50,000. 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.