Braze (NASDAQ:BRZE) Given “Outperform” Rating at William Blair

William Blair reissued their outperform rating on shares of Braze (NASDAQ:BRZE) in a research note issued to investors on Wednesday morning,RTT News reports.

A number of other brokerages have also recently commented on BRZE. JMP Securities reiterated a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research report on Friday, September 5th. Canaccord Genuity Group reissued a “buy” rating and issued a $43.00 target price on shares of Braze in a research note on Friday, September 5th. Raymond James Financial dropped their price target on Braze from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, June 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Braze in a report on Wednesday. Finally, The Goldman Sachs Group set a $52.00 price objective on Braze and gave the stock a “buy” rating in a research note on Saturday, September 6th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.11.

Braze Stock Performance

Shares of BRZE opened at $28.42 on Wednesday. The stock has a 50 day moving average price of $28.40 and a 200 day moving average price of $30.37. Braze has a one year low of $23.91 and a one year high of $48.33. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -27.33 and a beta of 1.10.

Insider Buying and Selling

In other Braze news, CAO Pankaj Malik sold 4,174 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $32.77, for a total value of $136,781.98. Following the sale, the chief accounting officer owned 62,756 shares of the company’s stock, valued at $2,056,514.12. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Astha Malik sold 3,270 shares of Braze stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $32.51, for a total value of $106,307.70. Following the completion of the transaction, the insider owned 233,660 shares of the company’s stock, valued at $7,596,286.60. The trade was a 1.38% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,798 shares of company stock valued at $2,158,088. 18.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Braze

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 517 shares in the last quarter. Quarry LP raised its stake in Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after buying an additional 595 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Braze during the first quarter worth $36,000. SBI Securities Co. Ltd. grew its position in Braze by 173.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock valued at $39,000 after buying an additional 870 shares during the last quarter. Finally, Osaic Holdings Inc. increased its stake in Braze by 821.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock valued at $44,000 after buying an additional 1,404 shares during the period. 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.