Braze’s (BRZE) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Braze (NASDAQ:BRZE) in a report released on Wednesday morning,Benzinga reports. They currently have a $50.00 target price on the stock.

A number of other research firms have also recently commented on BRZE. JPMorgan Chase & Co. lowered their price target on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Citigroup boosted their price target on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. JMP Securities reissued a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. DA Davidson lowered their target price on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Finally, Stifel Nicolaus upped their target price on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

Braze Stock Performance

Braze stock opened at $44.11 on Wednesday. Braze has a 52 week low of $29.18 and a 52 week high of $61.53. The stock has a market capitalization of $4.56 billion, a P/E ratio of -38.69 and a beta of 1.11. The stock has a fifty day moving average of $41.22 and a 200-day moving average of $38.50.

Insider Buying and Selling at Braze

In other Braze news, CEO William Magnuson sold 17,933 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $617,791.85. Following the sale, the chief executive officer now owns 582,816 shares in the company, valued at approximately $20,078,011.20. The trade was a 2.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total value of $64,695.00. Following the completion of the sale, the director now owns 15,269 shares in the company, valued at $658,551.97. This trade represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,583 shares of company stock worth $7,325,468. Insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Braze during the 2nd quarter valued at about $50,000. KBC Group NV boosted its position in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares in the last quarter. Amalgamated Bank boosted its position in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares in the last quarter. Evoke Wealth LLC bought a new stake in shares of Braze during the 2nd quarter valued at about $215,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Braze during the 2nd quarter valued at about $229,000. 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.