Braze’s (BRZE) “Outperform” Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of Braze (NASDAQ:BRZE) in a research report sent to investors on Wednesday,RTT News reports.

A number of other analysts have also 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. UBS Group dropped their target price on Braze from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Citigroup raised their price target on shares of Braze from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Oppenheimer decreased their price objective on shares of Braze from $44.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a research note on Friday, September 5th. Nineteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.11.

Braze Trading Up 2.5%

NASDAQ BRZE opened at $28.42 on Wednesday. Braze has a 12-month low of $23.91 and a 12-month high of $48.33. The company has a fifty day simple moving average of $28.40 and a two-hundred day simple moving average of $30.37. The stock has a market cap of $3.16 billion, a P/E ratio of -27.33 and a beta of 1.10.

Insider Activity at Braze

In other Braze news, CTO Jonathan Hyman sold 8,918 shares of Braze stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total value of $231,332.92. Following the completion of the transaction, the chief technology officer owned 205,106 shares of the company’s stock, valued at approximately $5,320,449.64. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Astha Malik sold 3,270 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $32.51, for a total transaction of $106,307.70. Following the completion of the transaction, the insider owned 233,660 shares of the company’s stock, valued at approximately $7,596,286.60. This trade represents a 1.38% 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 in the last quarter. 18.20% of the stock is currently owned by insiders.

Institutional Trading of Braze

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after buying an additional 517 shares in the last quarter. Quarry LP increased its holdings in Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company’s stock worth $29,000 after acquiring an additional 595 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Braze during the first quarter worth $36,000. SBI Securities Co. Ltd. raised its position in Braze by 173.3% during the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock worth $39,000 after acquiring an additional 870 shares during the period. 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 period. 90.47% of the stock is owned by institutional investors and hedge funds.

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.