Raymond James Has Lowered Expectations for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price target decreased by stock analysts at Raymond James from $48.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price points to a potential upside of 21.52% from the stock’s current price.

Several other research firms also recently weighed in on BRZE. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. Piper Sandler increased their price target on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Oppenheimer reissued an “outperform” rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. DA Davidson lowered their price objective on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Finally, Stephens started coverage on shares of Braze in a report on Wednesday. They set an “overweight” rating and a $43.00 target price on the stock. One equities research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $52.45.

Braze Stock Performance

Shares of Braze stock opened at $37.03 on Thursday. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $53.74. The firm has a 50-day simple moving average of $40.20 and a two-hundred day simple moving average of $38.08. The company has a market cap of $3.83 billion, a P/E ratio of -32.48 and a beta of 1.17.

Insiders Place Their Bets

In other news, insider Myles Kleeger sold 10,000 shares of Braze stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.43, for a total value of $454,300.00. Following the sale, the insider now owns 184,396 shares of the company’s stock, valued at $8,377,110.28. The trade was a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,700 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the sale, the chief accounting officer now directly owns 54,784 shares in the company, valued at approximately $2,507,463.68. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,470 shares of company stock valued at $3,841,921. Insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Braze by 12.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after buying an additional 57,713 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in Braze by 195.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after acquiring an additional 51,411 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after purchasing an additional 19,567 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Braze in the third quarter valued at about $673,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Braze in the fourth quarter valued at about $498,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.