JPMorgan Chase & Co. Lowers Braze (NASDAQ:BRZE) Price Target to $32.00

Braze (NASDAQ:BRZE) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $45.00 to $32.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 70.09% from the company’s current price.

Other research analysts have also issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price target on shares of Braze in a research report on Wednesday, December 10th. BTIG Research initiated coverage on Braze in a research note on Tuesday, December 16th. They set a “buy” rating and a $45.00 target price on the stock. Barclays lifted their target price on Braze from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Braze in a research note on Monday, December 29th. Finally, Oppenheimer restated an “outperform” rating and issued a $40.00 price objective on shares of Braze in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.65.

Braze Stock Down 0.1%

Shares of BRZE traded down $0.03 during trading on Thursday, reaching $18.81. 1,221,058 shares of the company traded hands, compared to its average volume of 3,029,552. The stock has a 50-day simple moving average of $22.21 and a 200-day simple moving average of $27.12. The stock has a market cap of $2.11 billion, a PE ratio of -17.15 and a beta of 1.08. Braze has a twelve month low of $15.26 and a twelve month high of $43.89.

Braze (NASDAQ:BRZE) last posted its earnings results on Tuesday, December 9th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $190.84 million during the quarter, compared to the consensus estimate of $198.25 million. Braze had a negative net margin of 16.85% and a negative return on equity of 17.87%. During the same quarter last year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. On average, equities research analysts predict that Braze will post -0.98 EPS for the current year.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 5,763 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total value of $97,567.59. Following the transaction, the general counsel owned 214,031 shares in the company, valued at approximately $3,623,544.83. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jonathan Hyman sold 7,391 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total value of $125,129.63. Following the sale, the chief technology officer directly owned 1,692,933 shares in the company, valued at $28,661,355.69. This trade represents a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 66,216 shares of company stock worth $1,225,772. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Braze

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. purchased a new stake in shares of Braze in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Braze by 3,650.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock valued at $28,000 after purchasing an additional 803 shares during the period. SBI Securities Co. Ltd. grew its stake in Braze by 173.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock worth $39,000 after buying an additional 870 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Braze during the fourth quarter worth approximately $52,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after acquiring an additional 1,404 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.