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

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

Several other equities analysts have also issued reports on BRZE. Needham & Company LLC reissued a buy rating and issued a $70.00 price target on shares of Braze in a research note on Thursday, March 28th. William Blair reissued an outperform rating on shares of Braze in a research note on Thursday, March 28th. TD Cowen dropped their price target on Braze from $68.00 to $65.00 and set a buy rating on the stock in a research note on Thursday, March 28th. DA Davidson reissued a buy rating and issued a $65.00 price target on shares of Braze in a research note on Monday, March 25th. Finally, Piper Sandler reissued an overweight rating and issued a $66.00 price target on shares of Braze in a research note on Friday, April 5th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $63.41.

Braze Price Performance

Shares of BRZE stock opened at $41.18 on Monday. The business’s 50 day simple moving average is $49.32 and its 200 day simple moving average is $50.63. Braze has a one year low of $25.76 and a one year high of $61.53. The stock has a market capitalization of $4.15 billion, a PE ratio of -30.96 and a beta of 1.13.

Braze (NASDAQ:BRZE) last announced its earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $124.55 million. As a group, research analysts expect that Braze will post -1.18 earnings per share for the current year.

Insider Activity at Braze

In related news, CEO William Magnuson sold 11,874 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $57.51, for a total value of $682,873.74. Following the completion of the sale, the chief executive officer now directly owns 636,514 shares of the company’s stock, valued at approximately $36,605,920.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Braze news, CEO William Magnuson sold 11,874 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $57.51, for a total value of $682,873.74. Following the completion of the transaction, the chief executive officer now owns 636,514 shares in the company, valued at approximately $36,605,920.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the transaction, the director now owns 11,056 shares of the company’s stock, valued at approximately $662,364.96. The disclosure for this sale can be found here. In the last three months, insiders sold 77,815 shares of company stock valued at $4,164,679. 26.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BRZE. Principal Financial Group Inc. bought a new position in shares of Braze during the 3rd quarter worth $4,377,000. Morgan Stanley grew its stake in shares of Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after acquiring an additional 899,894 shares during the period. Seven Eight Capital LP bought a new position in shares of Braze during the 3rd quarter worth $283,000. Penserra Capital Management LLC grew its stake in shares of Braze by 375.8% during the 3rd quarter. Penserra Capital Management LLC now owns 55,982 shares of the company’s stock worth $2,616,000 after acquiring an additional 44,217 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Braze by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company’s stock worth $246,099,000 after acquiring an additional 228,089 shares during the period. Institutional investors own 90.47% of the company’s stock.

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.