Braze (NASDAQ:BRZE) Price Target Cut to $50.00 by Analysts at DA Davidson

Braze (NASDAQ:BRZE) had its price target lowered by DA Davidson from $55.00 to $50.00 in a research note published on Tuesday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

BRZE has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective (down from $70.00) on shares of Braze in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Piper Sandler lifted their price objective on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday. The Goldman Sachs Group cut their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Macquarie started coverage on Braze in a research report on Thursday, October 31st. They set a “neutral” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.63.

Braze Stock Down 2.0 %

Braze stock opened at $40.95 on Tuesday. The business has a 50-day simple moving average of $34.46 and a 200 day simple moving average of $37.25. Braze has a 52 week low of $29.18 and a 52 week high of $61.53. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -35.92 and a beta of 1.15.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the completion of the transaction, the chief accounting officer now owns 67,095 shares of the company’s stock, valued at $2,311,422.75. This represents a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,979 shares of company stock valued at $3,688,914 in the last quarter. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several large investors have recently added to or reduced their stakes in BRZE. Quarry LP purchased a new stake in shares of Braze in the 2nd quarter worth about $50,000. Comerica Bank lifted its holdings in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the period. KBC Group NV lifted its holdings in Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares during the period. Amalgamated Bank grew its holdings in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares during the period. Finally, Canton Hathaway LLC raised its position in shares of Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Company Profile

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.