Braze (NASDAQ:BRZE) Given New $47.00 Price Target at JPMorgan Chase & Co.

Braze (NASDAQ:BRZE - Get Free Report) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $55.00 to $47.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 52.60% from the company's current price.

Several other analysts have also issued reports on the company. DA Davidson dropped their price objective on Braze from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, September 24th. Piper Sandler reduced their price target on Braze from $51.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. Stifel Nicolaus initiated coverage on Braze in a research report on Tuesday. They set a "buy" rating and a $37.00 target price for the company. TD Cowen decreased their price target on Braze from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, September 24th. Finally, Loop Capital reaffirmed a "buy" rating and set a $75.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Nineteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $56.72.

Braze Trading Up 0.1 %

Shares of NASDAQ BRZE traded up $0.02 during mid-day trading on Friday, hitting $30.80. The company had a trading volume of 702,128 shares, compared to its average volume of 1,032,315. Braze has a one year low of $29.18 and a one year high of $61.53. The company has a market capitalization of $3.13 billion, a PE ratio of -24.04 and a beta of 1.03. The firm has a 50-day simple moving average of $36.09 and a two-hundred day simple moving average of $38.49.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to the consensus estimate 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 was up 26.4% compared to the same quarter last year. During the same period last year, the company earned ($0.30) earnings per share. Sell-side analysts expect that Braze will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 7,500 shares of the firm's stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.04, for a total transaction of $322,800.00. Following the completion of the transaction, the general counsel now directly owns 214,340 shares in the company, valued at $9,225,193.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Susan Wiseman sold 7,500 shares of the company's stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.04, for a total transaction of $322,800.00. Following the sale, the general counsel now owns 214,340 shares in the company, valued at $9,225,193.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $42.18, for a total transaction of $189,810.00. Following the transaction, the chief financial officer now directly owns 242,627 shares in the company, valued at approximately $10,234,006.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,658 shares of company stock worth $9,002,766. 24.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Braze by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company's stock worth $305,315,000 after acquiring an additional 480,179 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Braze in the second quarter worth approximately $12,925,000. Point72 Asset Management L.P. bought a new position in shares of Braze in the second quarter valued at approximately $10,166,000. Peregrine Capital Management LLC purchased a new position in shares of Braze during the second quarter valued at approximately $7,349,000. Finally, Industry Ventures L.L.C. bought a new stake in Braze during the second quarter worth $7,332,000. Institutional investors own 90.47% of the company's stock.

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.