Oppenheimer Cuts Braze (NASDAQ:BRZE) Price Target to $38.00

Braze (NASDAQ:BRZE) had its price target reduced by Oppenheimer from $44.00 to $38.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company dropped their price target on Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial dropped their price target on Braze from $48.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, June 6th. Stifel Nicolaus set a $50.00 target price on Braze and gave the stock a “buy” rating in a report on Friday, March 28th. DA Davidson dropped their target price on Braze from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Friday, June 6th. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Braze has a consensus rating of “Moderate Buy” and an average target price of $46.30.

Braze Stock Up 0.9%

NASDAQ BRZE opened at $26.74 on Tuesday. Braze has a twelve month low of $25.22 and a twelve month high of $48.33. The firm has a market capitalization of $2.82 billion, a PE ratio of -26.48 and a beta of 1.22. The stock’s 50 day moving average is $31.86 and its 200 day moving average is $36.79.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The company had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The firm’s revenue was up 19.6% on a year-over-year basis. On average, research analysts anticipate that Braze will post -0.98 earnings per share for the current year.

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 4,167 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the completion of the sale, the general counsel now owns 248,999 shares in the company, valued at approximately $7,713,989.02. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 3,405 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $122,171.40. Following the sale, the chief accounting officer now owns 69,274 shares of the company’s stock, valued at approximately $2,485,551.12. This trade represents a 4.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,650 shares of company stock worth $2,478,624 over the last quarter. 18.20% of the stock is currently owned by insiders.

Institutional Trading of Braze

A number of hedge funds have recently bought and sold shares of the company. US Bancorp DE increased its position in Braze by 1.4% during the first quarter. US Bancorp DE now owns 21,314 shares of the company’s stock valued at $769,000 after acquiring an additional 302 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Braze by 2.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock worth $559,000 after buying an additional 316 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after buying an additional 405 shares in the last quarter. IFP Advisors Inc increased its position in Braze by 15.3% in the first quarter. IFP Advisors Inc now owns 3,386 shares of the company’s stock worth $122,000 after buying an additional 449 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after buying an additional 517 shares in the last quarter. Hedge funds and other 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.