Braze (NASDAQ:BRZE) Earns “Outperform” Rating from Oppenheimer

Braze (NASDAQ:BRZE)‘s stock had its “outperform” rating reaffirmed by research analysts at Oppenheimer in a report released on Tuesday,Benzinga reports. They presently have a $51.00 price objective on the stock. Oppenheimer’s price objective would suggest a potential upside of 20.34% from the company’s previous close.

BRZE has been the topic of a number of other reports. JMP Securities restated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. TD Cowen cut their target price on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Piper Sandler raised their price target on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus raised their target price on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company dropped their price objective on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.74.

Braze Trading Up 3.5 %

BRZE stock opened at $42.38 on Tuesday. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The company has a 50-day moving average price of $34.67 and a 200 day moving average price of $37.29. The stock has a market cap of $4.35 billion, a PE ratio of -37.18 and a beta of 1.15.

Insider Buying and Selling

In related news, CFO Isabelle Winkles sold 4,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total value of $144,540.00. Following the completion of the sale, the chief financial officer now owns 216,208 shares of the company’s stock, valued at approximately $6,944,600.96. This represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares in the company, valued at $1,720,244.10. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,979 shares of company stock worth $3,688,914. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its position in Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after buying an additional 279,050 shares during the last quarter. Geode Capital Management LLC increased its stake in Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after purchasing an additional 229,660 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings 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 in the last quarter. Fiera Capital Corp boosted its holdings in Braze by 1.0% in the second quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock valued at $30,320,000 after purchasing an additional 7,570 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new position in shares of Braze during the third quarter worth about $20,794,000. 90.47% of the stock is currently owned by hedge funds and other 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.