Braze’s (BRZE) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Braze (NASDAQ:BRZE) in a research note released on Monday morning,Benzinga reports. The firm currently has a $50.00 price objective on the stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their target price on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Oppenheimer reiterated an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. William Blair reaffirmed an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Finally, DA Davidson cut their price target on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Stock Up 2.2 %

NASDAQ:BRZE opened at $43.55 on Monday. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of -38.20 and a beta of 1.13. The stock’s fifty day moving average is $43.29 and its two-hundred day moving average is $38.98. Braze has a 52 week low of $29.18 and a 52 week high of $61.53.

Insider Buying and Selling

In other Braze news, General Counsel Susan Wiseman sold 41,210 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $45.09, for a total value of $1,858,158.90. Following the transaction, the general counsel now directly owns 199,520 shares in the company, valued at approximately $8,996,356.80. This represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Magnuson sold 17,933 shares of the firm’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 $617,791.85. Following the sale, the chief executive officer now owns 582,816 shares in the company, valued at approximately $20,078,011.20. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,583 shares of company stock worth $7,797,668 in the last three months. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

A number of institutional investors have recently modified their holdings of BRZE. JPMorgan Chase & Co. raised its position in Braze by 146.9% in the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after purchasing an additional 1,075,998 shares during the period. State Street Corp grew its holdings in Braze by 21.5% during the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after purchasing an additional 279,050 shares in the last quarter. Geode Capital Management LLC increased its stake in Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after buying an additional 229,660 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Braze by 69.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after buying an additional 612,400 shares during the period. Finally, Stephens Investment Management Group LLC lifted its holdings in Braze by 20.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company’s stock worth $32,343,000 after buying an additional 129,298 shares in the last quarter. Hedge funds and other 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.