Braze, Inc. (NASDAQ:BRZE) Receives Average Rating of “Moderate Buy” from Analysts

Braze, Inc. (NASDAQ:BRZE) has been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $45.1053.

Several analysts have weighed in on BRZE shares. Macquarie cut their target price on Braze from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, June 6th. Oppenheimer cut their price objective on shares of Braze from $44.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. UBS Group cut their price objective 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. Stephens set a $41.00 price target on shares of Braze and gave the stock an “overweight” rating in a research report on Friday, June 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Friday, September 5th.

Braze Trading Up 1.0%

BRZE opened at $31.58 on Monday. The business’s 50 day moving average is $28.37 and its 200-day moving average is $30.53. The stock has a market cap of $3.51 billion, a PE ratio of -30.37 and a beta of 1.10. Braze has a twelve month low of $23.91 and a twelve month high of $48.33.

Insider Activity

In other news, CAO Pankaj Malik sold 4,174 shares of the business’s stock in a transaction on 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 approximately $2,056,514.12. The trade was a 6.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Magnuson sold 24,325 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total value of $630,990.50. Following the completion of the sale, the chief executive officer directly owned 721,444 shares in the company, valued at $18,714,257.36. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,798 shares of company stock valued at $2,158,088 over the last 90 days. Corporate insiders own 18.20% of the company’s stock.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently made changes to their positions in the business. Westfield Capital Management Co. LP bought a new position in shares of Braze in the first quarter valued at $54,644,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Braze during the first quarter worth $50,988,000. Wellington Management Group LLP acquired a new stake in shares of Braze during the fourth quarter worth $50,000,000. Nuveen LLC acquired a new stake in shares of Braze during the first quarter worth $35,393,000. Finally, Norges Bank acquired a new stake in shares of Braze during the second quarter worth $24,467,000. 90.47% of the stock is currently owned by institutional investors.

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.