Braze (NASDAQ:BRZE) Earns Overweight Rating from Analysts at Stephens

Stephens began coverage on shares of Braze (NASDAQ:BRZE) in a research report report published on Wednesday, Marketbeat reports. The brokerage issued an overweight rating and a $43.00 price target on the stock.

A number of other research firms have also issued reports on BRZE. William Blair reissued an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. DA Davidson reduced their price target on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Oppenheimer restated an “outperform” rating and set a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. Stifel Nicolaus raised their target price on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler raised their price target on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Braze presently has an average rating of “Moderate Buy” and a consensus price target of $53.20.

Braze Trading Up 2.3 %

NASDAQ BRZE opened at $36.32 on Wednesday. The stock has a market cap of $3.76 billion, a P/E ratio of -31.86 and a beta of 1.17. The company has a fifty day simple moving average of $40.47 and a two-hundred day simple moving average of $38.15. Braze has a 12-month low of $29.18 and a 12-month high of $55.47.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 3,486 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.02, for a total transaction of $139,509.72. Following the transaction, the general counsel now owns 182,109 shares of the company’s stock, valued at approximately $7,288,002.18. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,700 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.77, for a total value of $169,349.00. Following the transaction, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at $2,507,463.68. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock worth $3,841,921 over the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its stake in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after buying an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Braze in the fourth quarter valued at about $47,000. Finally, KBC Group NV lifted its position in Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares during the period. Institutional investors and hedge funds 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.