Braze, Inc. (NASDAQ:BRZE) Receives Average Rating of “Moderate Buy” from Brokerages

Braze, Inc. (NASDAQ:BRZE) has received an average recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $53.74.

Several analysts recently commented on BRZE shares. Stifel Nicolaus lifted their target price on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Citigroup upped their target price on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler lifted their price target on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Finally, UBS Group dropped their target price on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 3,432 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the completion of the transaction, the chief accounting officer now owns 67,095 shares of the company’s stock, valued at approximately $2,311,422.75. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 9,225 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $317,801.25. Following the completion of the transaction, the insider now directly owns 190,738 shares of the company’s stock, valued at $6,570,924.10. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,083 shares of company stock worth $7,260,773 over the last three months. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after acquiring an additional 1,075,998 shares in the last quarter. Stephens Investment Management Group LLC acquired a new stake in shares of Braze during the third quarter valued at about $20,794,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Braze by 69.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after purchasing an additional 612,400 shares during the last quarter. Granite Investment Partners LLC acquired a new position in shares of Braze in the second quarter valued at approximately $12,925,000. Finally, State Street Corp raised its holdings in Braze by 21.5% in the 3rd 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. Institutional investors own 90.47% of the company’s stock.

Braze Price Performance

Shares of Braze stock opened at $41.86 on Wednesday. The business has a fifty day simple moving average of $40.45 and a two-hundred day simple moving average of $38.36. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of -36.72 and a beta of 1.11.

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.