Braze (NASDAQ:BRZE) Price Target Cut to $32.00 by Analysts at JPMorgan Chase & Co.

Braze (NASDAQ:BRZE) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $45.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 70.09% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Braze from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Braze in a research note on Monday, December 29th. Stifel Nicolaus set a $40.00 price objective on shares of Braze in a research report on Monday, February 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 target price on shares of Braze in a research note on Wednesday, December 10th. Finally, BTIG Research began coverage on shares of Braze in a research note on Tuesday, December 16th. They set a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.65.

Braze Stock Performance

BRZE traded down $0.03 during trading on Thursday, hitting $18.81. 1,221,058 shares of the stock were exchanged, compared to its average volume of 3,029,552. The firm has a 50 day simple moving average of $22.21 and a 200 day simple moving average of $27.12. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -17.15 and a beta of 1.08. Braze has a 1 year low of $15.26 and a 1 year high of $43.89.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Braze had a negative return on equity of 17.87% and a negative net margin of 16.85%.The business had revenue of $190.84 million for the quarter, compared to the consensus estimate of $198.25 million. During the same quarter in the prior year, the company earned $0.02 EPS. The business’s revenue was up 25.5% compared to the same quarter last year. As a group, equities analysts anticipate that Braze will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Astha Malik sold 14,049 shares of Braze stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total value of $237,849.57. Following the completion of the transaction, the insider owned 205,289 shares in the company, valued at $3,475,542.77. The trade was a 6.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 5,763 shares of the company’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 $97,567.59. Following the completion of the transaction, the general counsel directly owned 214,031 shares of the company’s stock, valued at $3,623,544.83. The trade was a 2.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 66,216 shares of company stock worth $1,225,772. 18.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

A number of institutional investors have recently made changes to their positions in BRZE. NBC Securities Inc. acquired a new stake in Braze during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 last quarter. SBI Securities Co. Ltd. grew its stake in shares of Braze by 173.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock valued at $39,000 after buying an additional 870 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Braze during the 4th quarter worth approximately $52,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Braze by 821.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after buying an additional 1,404 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

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.