Braze, Inc. (NASDAQ:BRZE) Receives $45.10 Average Price Target from Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $45.1053.

A number of research firms have recently weighed in on BRZE. UBS Group dropped their price target on shares of Braze from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. DA Davidson reaffirmed a “buy” rating and issued a $40.00 target price on shares of Braze in a research report on Friday, September 5th. Citigroup upped their target price on Braze from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Barclays increased their price objective on Braze from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Finally, Piper Sandler increased their price target on shares of Braze from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th.

Braze Stock Performance

Braze stock opened at $31.58 on Monday. The firm has a market cap of $3.51 billion, a PE ratio of -30.37 and a beta of 1.10. The firm’s 50 day moving average price is $28.37 and its two-hundred day moving average price is $30.53. Braze has a twelve month low of $23.91 and a twelve month high of $48.33.

Insider Activity

In other Braze news, CAO Pankaj Malik sold 4,174 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $32.77, for a total transaction of $136,781.98. Following the transaction, the chief accounting officer directly owned 62,756 shares of the company’s stock, valued at $2,056,514.12. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 4,988 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $129,388.72. Following the transaction, the general counsel directly owned 234,667 shares in the company, valued at $6,087,261.98. The trade was a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,798 shares of company stock valued at $2,158,088. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Braze

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after buying an additional 517 shares during the last quarter. Quarry LP grew its position in shares of Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after purchasing an additional 595 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Braze in the first quarter valued at about $36,000. SBI Securities Co. Ltd. grew its position in shares of Braze by 173.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock valued at $39,000 after purchasing an additional 870 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after purchasing an additional 1,404 shares during the last quarter. Institutional investors and hedge funds 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.