Braze (NASDAQ:BRZE) Coverage Initiated by Analysts at Stephens

Stephens initiated coverage on shares of Braze (NASDAQ:BRZE) in a report issued on Wednesday, MarketBeat.com reports. The firm issued an overweight rating and a $43.00 price objective on the stock.

A number of other research firms have also recently issued reports on BRZE. Oppenheimer reiterated an “outperform” rating and issued a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. Citigroup lifted their target price on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. DA Davidson reduced their target price on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, December 10th. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $52.45.

Braze Stock Performance

BRZE stock opened at $37.03 on Wednesday. The stock has a market cap of $3.83 billion, a P/E ratio of -32.48 and a beta of 1.17. The firm has a 50 day simple moving average of $40.20 and a 200 day simple moving average of $38.08. Braze has a 52 week low of $29.18 and a 52 week high of $53.74.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 14,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.52, for a total value of $637,280.00. Following the sale, the general counsel now owns 199,520 shares in the company, valued at approximately $9,082,150.40. The trade was a 6.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jonathan Hyman sold 5,210 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the sale, the chief technology officer now owns 157,810 shares in the company, valued at $6,441,804.20. This represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock valued at $3,841,921 in the last 90 days. 24.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Braze by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock worth $354,479,000 after buying an additional 1,476,423 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Braze by 2.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company’s stock worth $112,798,000 after buying an additional 63,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Braze by 27.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock worth $96,711,000 after buying an additional 500,667 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Braze by 121.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock worth $92,028,000 after buying an additional 1,203,149 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Braze by 107.0% during the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company’s stock worth $82,246,000 after buying an additional 1,015,007 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.