Cowen Trims Braze (NASDAQ:BRZE) Target Price to $54.00

Braze (NASDAQ:BRZEGet Rating) had its target price dropped by investment analysts at Cowen from $60.00 to $54.00 in a report issued on Thursday, Stock Target Advisor reports. Cowen’s price objective would indicate a potential upside of 67.44% from the stock’s current price.

A number of other research firms have also recently issued reports on BRZE. JPMorgan Chase & Co. lowered their target price on Braze from $65.00 to $42.00 in a report on Tuesday, June 14th. Loop Capital lowered their target price on Braze from $75.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, June 15th. Oppenheimer lowered their target price on Braze from $60.00 to $37.00 and set an “outperform” rating for the company in a report on Tuesday, June 14th. Piper Sandler lowered their target price on Braze from $65.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, June 14th. Finally, Needham & Company LLC decreased their price objective on Braze from $90.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, March 31st. Fifteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Braze presently has a consensus rating of “Buy” and a consensus target price of $52.79.

BRZE stock opened at $32.25 on Thursday. The business’s fifty day moving average is $36.01 and its 200-day moving average is $47.24. Braze has a twelve month low of $27.09 and a twelve month high of $98.78.

Braze (NASDAQ:BRZEGet Rating) last posted its quarterly earnings results on Monday, June 13th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. On average, analysts expect that Braze will post -1.5 earnings per share for the current fiscal year.

In related news, insider Myles Kleeger sold 10,000 shares of the business’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $32.58, for a total value of $325,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Pankaj Malik sold 5,943 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $31.53, for a total transaction of $187,382.79. Following the completion of the sale, the chief accounting officer now directly owns 80,360 shares in the company, valued at approximately $2,533,750.80. The disclosure for this sale can be found here. Over the last three months, insiders purchased 308,867 shares of company stock worth $11,554,072 and sold 124,443 shares worth $4,608,848. Company insiders own 32.14% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Braze by 50,225.0% in the first quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock worth $83,000 after purchasing an additional 2,009 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Braze in the fourth quarter worth $206,000. Renaissance Capital LLC bought a new stake in shares of Braze in the fourth quarter worth $277,000. Malaga Cove Capital LLC bought a new stake in shares of Braze in the first quarter worth $309,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Braze in the first quarter worth $346,000. 23.64% of the stock is currently owned by institutional investors.

About Braze (Get Rating)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can 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 syncing, which allow brands to sync user cohorts from partners.

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