UBS Group Cuts Braze (NASDAQ:BRZE) Price Target to $48.00

Braze (NASDAQ:BRZE) had its target price cut by UBS Group from $51.00 to $48.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. Barclays reduced their target price on shares of Braze from $70.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Braze in a research report on Friday. Stifel Nicolaus set a $50.00 target price on Braze and gave the stock a “buy” rating in a research report on Friday, March 28th. Raymond James increased their target price on Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, March 28th. Finally, Cantor Fitzgerald began coverage on Braze in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.60.

Braze Stock Down 17.6%

BRZE opened at $29.73 on Friday. The business has a 50 day moving average price of $32.78 and a two-hundred day moving average price of $37.98. Braze has a 52 week low of $27.45 and a 52 week high of $48.33. The company has a market cap of $3.11 billion, a PE ratio of -26.08 and a beta of 1.22.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business had revenue of $162.06 million during the quarter, compared to analysts’ expectations of $158.60 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts expect that Braze will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In related news, CTO Jonathan Hyman sold 9,197 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $329,988.36. Following the sale, the chief technology officer now directly owns 214,024 shares of the company’s stock, valued at approximately $7,679,181.12. This represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $122,171.40. Following the transaction, the chief accounting officer now owns 69,274 shares of the company’s stock, valued at $2,485,551.12. This trade represents a 4.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,150 shares of company stock valued at $2,540,814. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC grew its holdings in Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after buying an additional 64,093 shares during the last quarter. KBC Group NV lifted its position in shares of Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after acquiring an additional 832 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in shares of Braze by 20.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock valued at $32,343,000 after acquiring an additional 129,298 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Braze during the fourth quarter valued at $165,000. Finally, Principal Financial Group Inc. purchased a new stake in Braze during the 4th quarter worth about $236,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.