Braze, Inc. (NASDAQ:BRZE) Receives $64.29 Average Target Price from Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $64.29.

BRZE has been the subject of several analyst reports. Canaccord Genuity Group decreased their price objective on Braze from $70.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, March 28th. TD Cowen decreased their price objective on Braze from $68.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Oppenheimer reiterated an “outperform” rating and set a $75.00 price objective on shares of Braze in a report on Thursday, March 28th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. cut their target price on Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, March 28th.

Insider Activity at Braze

In related news, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total value of $854,400.00. Following the transaction, the insider now directly owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Susan Wiseman sold 2,838 shares of Braze stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.52, for a total value of $163,241.76. Following the completion of the sale, the general counsel now owns 206,358 shares in the company, valued at approximately $11,869,712.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,815 shares of company stock valued at $4,164,679. 26.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Braze

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Braze by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares during the last quarter. Morgan Stanley increased its holdings in Braze by 20.1% in the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after buying an additional 899,894 shares in the last quarter. BlackRock Inc. increased its stake in shares of Braze by 296.6% during the 2nd quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock worth $114,050,000 after purchasing an additional 1,947,831 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Braze by 12.5% during the 2nd quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock worth $104,054,000 after purchasing an additional 263,250 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Braze by 62.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,090,100 shares of the company’s stock worth $111,047,000 after purchasing an additional 805,000 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Stock Down 1.6 %

Braze stock opened at $39.53 on Monday. The business has a fifty day moving average of $51.19 and a two-hundred day moving average of $50.84. The firm has a market cap of $3.99 billion, a P/E ratio of -29.72 and a beta of 1.13. Braze has a twelve month low of $25.76 and a twelve month high of $61.53.

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.