Raymond James Has Lowered Expectations for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price objective reduced by Raymond James from $48.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 23.90% from the stock’s current price.

Several other research analysts have also weighed in on BRZE. Citigroup lifted their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their target price on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Braze in a report on Monday, February 3rd. Piper Sandler raised their price objective on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus boosted their target price on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $52.70.

Braze Stock Up 2.3 %

BRZE opened at $36.32 on Thursday. Braze has a twelve month low of $29.18 and a twelve month high of $55.47. The company has a fifty day moving average of $40.47 and a 200-day moving average of $38.15. The stock has a market cap of $3.76 billion, a PE ratio of -31.86 and a beta of 1.17.

Insider Buying and Selling at Braze

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value 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. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Magnuson sold 18,050 shares of the firm’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. This represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,470 shares of company stock worth $3,841,921. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors have recently added to or reduced their stakes in BRZE. ShawSpring Partners LLC purchased a new position in Braze in the fourth quarter valued at about $62,837,000. Norges Bank bought a new stake in shares of Braze in the 4th quarter worth approximately $62,639,000. Vanguard Group Inc. grew its holdings in Braze by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Braze by 121.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock valued at $92,028,000 after purchasing an additional 1,203,149 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Braze in the fourth quarter worth $50,000,000. Institutional investors 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.