Braze (NASDAQ:BRZE) Upgraded at Stephens

Stephens upgraded shares of Braze (NASDAQ:BRZE) to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company cut their target price 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. Citigroup boosted their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. DA Davidson reduced their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $53.20.

Braze Price Performance

Braze stock opened at $36.32 on Tuesday. Braze has a 52-week low of $29.18 and a 52-week high of $55.47. The stock has a fifty day moving average price of $40.47 and a two-hundred day moving average price of $38.15. The firm has a market capitalization of $3.76 billion, a P/E ratio of -31.86 and a beta of 1.17.

Insider Transactions at Braze

In related news, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the sale, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 8,365 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the transaction, the insider now owns 168,882 shares of the company’s stock, valued at approximately $6,775,545.84. This trade represents a 4.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock valued at $3,841,921 over the last 90 days. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Braze by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after purchasing an additional 57,713 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Braze by 195.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after buying an additional 51,411 shares during the last quarter. Victory Capital Management Inc. raised its position in Braze by 5.0% during the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after acquiring an additional 19,567 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Braze in the third quarter valued at $673,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Braze in the 4th quarter valued at about $498,000. 90.47% of the stock is currently owned by institutional investors.

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.