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

Shares of Braze, Inc. (NASDAQ:BRZE) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $63.76.

Several equities analysts have recently commented on BRZE shares. The Goldman Sachs Group raised their price target on Braze from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Needham & Company LLC raised their price target on Braze from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. BTIG Research raised their price target on Braze from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Canaccord Genuity Group raised their price target on Braze from $55.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Finally, Piper Sandler raised their price target on Braze from $57.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, December 7th.

Insider Activity at Braze

In related news, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total value of $746,700.00. Following the sale, the insider now owns 171,709 shares in the company, valued at $8,547,674.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total value of $746,700.00. Following the sale, the insider now owns 171,709 shares in the company, valued at $8,547,674.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the sale, the director now owns 11,056 shares in the company, valued at approximately $662,364.96. The disclosure for this sale can be found here. Insiders have sold a total of 75,471 shares of company stock worth $4,196,153 over the last quarter. Insiders own 26.48% of the company’s stock.

Institutional Investors Weigh In On Braze

Hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Braze in the 2nd quarter worth approximately $688,000. PEAK6 Investments LLC purchased a new stake in Braze in the 2nd quarter worth approximately $311,000. Principal Financial Group Inc. purchased a new stake in Braze in the 3rd quarter worth approximately $4,377,000. Morgan Stanley boosted its position in Braze by 20.1% in the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after purchasing an additional 899,894 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in Braze in the 3rd quarter worth approximately $283,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Trading Up 2.3 %

NASDAQ:BRZE opened at $50.58 on Thursday. Braze has a twelve month low of $25.76 and a twelve month high of $61.53. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -36.39 and a beta of 1.21. The stock has a fifty day simple moving average of $55.05 and a 200-day simple moving average of $51.24.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.