Needham & Company LLC Reaffirms Buy Rating for Braze (NASDAQ:BRZE)

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $50.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 17.37% from the stock’s previous close.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus upped their price target on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Citigroup raised their price objective 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 increased their target price on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, DA Davidson reduced their price target on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.74.

Braze Stock Up 2.6 %

Shares of BRZE stock opened at $42.60 on Monday. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of -37.37 and a beta of 1.13. The business’s fifty day moving average is $43.20 and its 200 day moving average is $38.95. Braze has a twelve month low of $29.18 and a twelve month high of $61.53.

Insider Activity

In related news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction on Friday, December 13th. The shares were sold at an average price of $42.02, for a total transaction of $63,030.00. Following the transaction, the director now owns 15,269 shares in the company, valued at approximately $641,603.38. The trade was a 8.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Magnuson sold 17,933 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $617,791.85. Following the sale, the chief executive officer now directly owns 582,816 shares in the company, valued at approximately $20,078,011.20. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,583 shares of company stock valued at $7,797,668 in the last 90 days. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several hedge funds have recently modified their holdings of BRZE. Harbor Capital Advisors Inc. raised its position in Braze by 3.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after purchasing an additional 346 shares during the period. Amalgamated Bank raised its holdings in 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 buying an additional 358 shares during the period. Creative Planning boosted its stake in Braze by 1.7% during the second quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after buying an additional 384 shares during the period. KBC Group NV increased its position in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares during the last quarter. Finally, Diversified Trust Co boosted its position in Braze by 4.1% in the 3rd quarter. Diversified Trust Co now owns 26,697 shares of the company’s stock valued at $863,000 after buying an additional 1,050 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.