Canaccord Genuity Group Cuts Braze (NASDAQ:BRZE) Price Target to $50.00

Braze (NASDAQ:BRZE) had its price objective lowered by Canaccord Genuity Group from $65.00 to $50.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. UBS Group upgraded Braze from a neutral rating to a buy rating and set a $62.00 price target for the company in a report on Thursday, March 21st. Oppenheimer restated an outperform rating and set a $75.00 price target on shares of Braze in a report on Thursday, March 28th. JPMorgan Chase & Co. reduced their price target on Braze from $60.00 to $58.00 and set an overweight rating for the company in a report on Thursday, March 28th. Needham & Company LLC reaffirmed a buy rating and set a $70.00 price objective on shares of Braze in a research report on Thursday, March 28th. Finally, Piper Sandler reaffirmed an overweight rating and set a $66.00 price objective on shares of Braze in a research report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $63.41.

Braze Trading Up 1.4 %

BRZE opened at $41.35 on Monday. The stock has a fifty day simple moving average of $49.67 and a two-hundred day simple moving average of $50.69. The company has a market cap of $4.17 billion, a price-to-earnings ratio of -31.09 and a beta of 1.13. Braze has a 12-month low of $25.76 and a 12-month high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. The business had revenue of $130.96 million during the quarter, compared to the consensus estimate of $124.55 million. On average, analysts predict that Braze will post -1.18 EPS for the current year.

Insiders Place Their Bets

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $41.79, for a total value of $62,685.00. Following the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at $462,030.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $41.79, for a total transaction of $62,685.00. Following the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at approximately $462,030.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total value of $854,400.00. Following the transaction, the insider now directly owns 244,291 shares in the company, valued at $13,914,815.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,815 shares of company stock valued at $4,164,679. Insiders own 26.48% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Fred Alger Management LLC bought a new stake in Braze during the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC bought a new stake in Braze during the 3rd quarter valued at approximately $31,000. Neo Ivy Capital Management bought a new stake in Braze during the 4th quarter valued at approximately $40,000. Canton Hathaway LLC bought a new stake in Braze during the 4th quarter valued at approximately $42,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Braze during the 3rd quarter valued at approximately $61,000. 90.47% of the stock is owned by hedge funds and other 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.