Braze’s (BRZE) Outperform Rating Reaffirmed at William Blair

William Blair reiterated their outperform rating on shares of Braze (NASDAQ:BRZE) in a research report released on Thursday,RTT News reports.

Several other analysts have also recently commented on the stock. JMP Securities reissued a “market outperform” rating and set a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th. Oppenheimer reissued an “outperform” rating and set a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. The Goldman Sachs Group decreased their price target on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Stock Performance

Shares of NASDAQ BRZE traded up $0.67 during mid-day trading on Thursday, hitting $44.67. 177,599 shares of the stock were exchanged, compared to its average volume of 1,090,998. The company has a market cap of $4.59 billion, a P/E ratio of -39.18 and a beta of 1.15. The stock’s fifty day simple moving average is $36.25 and its two-hundred day simple moving average is $37.46. Braze has a twelve month low of $29.18 and a twelve month high of $61.53.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 2,790 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.00, for a total value of $125,550.00. Following the sale, the general counsel now directly owns 199,520 shares of the company’s stock, valued at approximately $8,978,400. This represents a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,980 shares of company stock valued at $4,339,005 in the last ninety days. 24.03% of the stock is currently owned by insiders.

Institutional Trading of Braze

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after purchasing an additional 57,713 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Braze during the second quarter valued at approximately $10,166,000. Victory Capital Management Inc. grew its stake in Braze by 5.0% during the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock valued at $13,309,000 after acquiring an additional 19,567 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Braze in the 2nd quarter worth approximately $971,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in Braze by 195.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock worth $2,512,000 after buying an additional 51,411 shares in the last quarter. 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.