Braze (NASDAQ:BRZE) PT Lowered to $58.00 at Scotiabank

Braze (NASDAQ:BRZE) had its price objective dropped by analysts at Scotiabank from $65.00 to $58.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 27.00% from the stock’s current price.

Other analysts have also issued research reports about the company. Oppenheimer restated an “outperform” rating and issued a $75.00 price objective on shares of Braze in a report on Thursday. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of Braze in a report on Monday. William Blair reissued an “outperform” rating on shares of Braze in a research report on Thursday. Raymond James upped their price target on Braze from $52.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, December 7th. Finally, Barclays raised their price objective on Braze from $65.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Braze Stock Down 9.7 %

BRZE stock traded down $4.91 during trading on Thursday, reaching $45.67. 2,213,091 shares of the company’s stock were exchanged, compared to its average volume of 748,391. Braze has a 1-year low of $25.76 and a 1-year high of $61.53. The company’s fifty day moving average price is $55.05 and its 200-day moving average price is $51.24. The firm has a market cap of $4.56 billion, a PE ratio of -32.93 and a beta of 1.21.

Insider Activity at Braze

In other Braze news, CFO Isabelle Winkles sold 5,489 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $57.51, for a total transaction of $315,672.39. Following the completion of the sale, the chief financial officer now directly owns 282,564 shares in the company, valued at $16,250,255.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Braze news, CTO Jonathan Hyman sold 3,730 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $57.51, for a total transaction of $214,512.30. Following the completion of the sale, the chief technology officer now directly owns 183,258 shares of the company’s stock, valued at approximately $10,539,167.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Isabelle Winkles sold 5,489 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.51, for a total value of $315,672.39. Following the completion of the transaction, the chief financial officer now owns 282,564 shares in the company, valued at approximately $16,250,255.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,471 shares of company stock worth $4,196,153. Company insiders own 26.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BRZE. BlackRock Inc. lifted its holdings in Braze by 296.6% in the second quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock worth $114,050,000 after buying an additional 1,947,831 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after acquiring an additional 1,287,500 shares during the last quarter. Morgan Stanley boosted its stake in shares of Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after acquiring an additional 899,894 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Braze by 12,400.1% during the 1st quarter. Deutsche Bank AG now owns 852,010 shares of the company’s stock valued at $29,454,000 after buying an additional 845,194 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Braze by 180.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock valued at $60,053,000 after buying an additional 826,100 shares in the last quarter. 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 data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.