Cowen Trims Braze (NASDAQ: BRZE) Target Price at $50.00
Braze (NASDAQ:BRZE – Get a Rating) saw its price target lowered by Cowen from $54.00 to $50.00 in a research note released Tuesday to investors, reports The Fly. Cowen’s price target would point to a potential upside of 14.73% from the stock’s previous close.
Several other stock analysts have also published reports on BRZE. Barclays cut its price target on Braze shares from $75.00 to $50.00 and set an “overweight” rating on the stock in a Wednesday, June 15 report. Cowen lowered his target price on Braze shares from $60.00 to $54.00 and set an “outperform” rating for the company in a Thursday, June 23 research note. Piper Sandler raised her price target on shares of Braze from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday. Canaccord Genuity Group lowered its price target on Braze shares from $60.00 to $47.00 and set a “buy” rating for the company in a Tuesday, June 14 research note. Finally, UBS Group began covering Braze shares in a research note on Tuesday, July 12. They set a “buy” rating and a price target of $53.00 for the company. Sixteen equity research analysts have rated the stock with a buy rating. According to MarketBeat.com, Braze has an average rating of “Buy” and an average target price of $54.27.
Brazing Price Performance
Braze stock opened at $43.58 on Tuesday. The company’s 50-day moving average is $44.26 and its 200-day moving average is $39.84. Braze has a 1-year low of $27.09 and a 1-year high of $98.78.
Braze (NASDAQ:BRZE – Get Rating) last released its quarterly earnings data on Monday, September 12. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.04. The company posted revenue of $86.13 million for the quarter, versus $81.16 million expected by analysts. Braze revenue for the quarter increased 54.5% compared to the same quarter last year. On average, equity research analysts expect Braze to post -1.5 EPS for the current year.
Insider Buying and Selling at Braze
In other Braze news, insider Myles Kleeger sold 10,000 Braze shares in a trade on Thursday, June 16. The shares were sold at an average price of $32.58, for a total value of $325,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Braze news, insider Myles Kleeger sold 10,000 Braze shares in a trade on Thursday, June 16. The shares were sold at an average price of $32.58, for a total value of $325,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, General Counsel Susan Wiseman sold 20,000 shares of the company in a transaction dated Tuesday, July 5. The stock was sold at an average price of $43.07, for a total transaction of $861,400.00. Following the sale, the General Counsel now directly owns 5,215 shares of the company, valued at approximately $224,610.05. The disclosure of this sale can be found here. During the last quarter, insiders sold 219,348 shares of the company valued at $8,914,916. Company insiders hold 32.14% of the company’s shares.
Braze Institutional Trade
A number of institutional investors and hedge funds have recently changed their stock holdings. Legal & General Group Plc purchased a new equity stake in Braze during the second quarter worth approximately $305,000. Eagle Bay Advisors LLC purchased a new stake in shares of Braze during the second quarter worth approximately $1,750,000. Goldman Sachs Group Inc. increased its position in Braze by 215.8% during the second quarter. Goldman Sachs Group Inc. now owns 391,081 shares of the company worth $14,169,000 after acquiring 267,238 additional shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Braze by 54.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 847,360 shares of the company worth $30,700,000 after acquiring an additional 298,790 shares in the last quarter. Finally, Creative Planning acquired a new position in Braze during the second quarter worth approximately $1,038,000. Hedge funds and other institutional investors own 39.38% of the company’s shares.
(Get a rating)
Braze, Inc operates a customer engagement platform that enables interactions between consumers and brands around the world. It offers data ingestion products, such as Braze SDKs that automatically handle data ingestion and delivery of mobile and web notifications, in-app/in-browser interstitial messages, and maps content, and can also be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands’ existing technology stacks; and Partner Cohort Sync, which allows brands to sync partner user cohorts.
This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Braze, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Braze wasn’t on the list.
Although Braze currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here