JPMorgan Chase & Co. Lowers Braze (NASDAQ:BRZE) Price Target to $47.00

Braze (NASDAQ:BRZE) had its price objective cut 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 indicates a potential upside of 52.60% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. UBS Group decreased their price objective on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. DA Davidson decreased their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Piper Sandler dropped their price objective on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Braze in a research note on Tuesday, September 24th. Finally, TD Cowen lowered their target price on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Nineteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $56.72.

Braze Stock Up 0.1 %

Shares of BRZE stock opened at $30.80 on Friday. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -24.06 and a beta of 1.03. The stock has a fifty day moving average of $35.86 and a 200 day moving average of $38.37. Braze has a 52 week low of $29.18 and a 52 week high of $61.53.

Braze (NASDAQ:BRZE) last announced its 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. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Braze will post -1.02 earnings per share for the current year.

Insiders Place Their Bets

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares of the company’s stock, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Myles Kleeger sold 9,178 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $379,693.86. Following the completion of the transaction, the insider now owns 206,340 shares in the company, valued at $8,536,285.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 225,658 shares of company stock valued at $9,002,766. 24.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Braze

Hedge funds have recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after buying an additional 738 shares in the last quarter. Quarry LP bought a new stake in shares of Braze in the 2nd quarter worth about $50,000. Comerica Bank raised its position in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares in the last quarter. Canton Hathaway LLC lifted its holdings in shares of Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after acquiring an additional 1,187 shares during the last quarter. Finally, RiverPark Advisors LLC grew its position in Braze by 360.9% in the first quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after acquiring an additional 1,411 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

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.