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

Braze (NASDAQ:BRZE) had its price target reduced by Raymond James from $48.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 21.52% from the stock’s current price.

BRZE has been the subject of a number of other research reports. Macquarie raised their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Stifel Nicolaus raised their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. DA Davidson cut their price objective on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Finally, Piper Sandler lifted their price target on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Braze presently has a consensus rating of “Buy” and an average target price of $52.45.

Braze Stock Up 2.7 %

NASDAQ:BRZE opened at $37.03 on Thursday. The stock has a market cap of $3.83 billion, a PE ratio of -32.48 and a beta of 1.17. The business’s 50-day simple moving average is $40.20 and its two-hundred day simple moving average is $38.08. Braze has a 52 week low of $29.18 and a 52 week high of $53.74.

Insider Activity

In related news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 15,269 shares of the company’s stock, valued at $658,551.97. The trade was a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the transaction, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,470 shares of company stock valued at $3,841,921. Corporate insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in Braze by 4.7% in the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock worth $2,434,000 after purchasing an additional 2,605 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in Braze in the fourth quarter worth $1,868,000. State of Wyoming purchased a new position in Braze in the fourth quarter worth $197,000. ProShare Advisors LLC grew its holdings in shares of Braze by 33.8% during the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock valued at $1,028,000 after buying an additional 6,200 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Braze during the fourth quarter valued at $1,686,000. 90.47% of the stock is 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.