Brokerages Set Braze, Inc. (NASDAQ:BRZE) PT at $45.11

Braze, Inc. (NASDAQ:BRZE) has received a consensus rating of “Moderate Buy” from the twenty-one research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nineteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $45.1053.

Several research firms have recently commented on BRZE. Canaccord Genuity Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Braze in a research report on Friday, September 5th. Wells Fargo & Company assumed coverage on Braze in a research note on Tuesday, September 30th. They set an “overweight” rating and a $40.00 target price for the company. DA Davidson restated a “buy” rating and issued a $40.00 target price on shares of Braze in a research report on Friday, September 5th. UBS Group lowered their price target on Braze from $48.00 to $43.00 and set a “buy” rating for the company in a report on Friday, September 5th. Finally, The Goldman Sachs Group set a $52.00 price objective on Braze and gave the stock a “buy” rating in a research report on Saturday, September 6th.

Braze Trading Down 0.9%

Braze stock opened at $30.03 on Friday. The company has a 50-day moving average price of $27.95 and a 200 day moving average price of $28.65. Braze has a 12-month low of $23.91 and a 12-month high of $48.33. The stock has a market cap of $3.34 billion, a P/E ratio of -28.87 and a beta of 1.10.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 4,456 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $27.57, for a total value of $122,851.92. Following the sale, the general counsel directly owned 219,794 shares of the company’s stock, valued at approximately $6,059,720.58. The trade was a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Magnuson sold 26,698 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total transaction of $711,234.72. Following the transaction, the chief executive officer directly owned 694,746 shares of the company’s stock, valued at $18,508,033.44. The trade was a 3.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 68,557 shares of company stock valued at $1,856,089. 18.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Braze by 2.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,316,234 shares of the company’s stock valued at $65,086,000 after purchasing an additional 64,025 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Braze during the second quarter worth $736,000. Dynamic Technology Lab Private Ltd purchased a new position in Braze in the first quarter valued at $691,000. Versor Investments LP acquired a new stake in Braze in the second quarter valued at $638,000. Finally, AlphaQuest LLC lifted its holdings in Braze by 250.6% during the 2nd quarter. AlphaQuest LLC now owns 17,899 shares of the company’s stock worth $503,000 after buying an additional 12,794 shares during the last quarter. 90.47% of the stock is currently 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.