Braze, Inc. (NASDAQ:BRZE) Receives $53.74 Average PT from Brokerages

Braze, Inc. (NASDAQ:BRZE) has received a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $53.74.

Several brokerages recently weighed in on BRZE. UBS Group dropped their target price on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. DA Davidson dropped their price target on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Macquarie increased their price objective on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group dropped their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, TD Cowen decreased their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th.

Insider Activity at Braze

In other news, CTO Jonathan Hyman sold 6,930 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $238,738.50. Following the completion of the transaction, the chief technology officer now directly owns 163,020 shares of the company’s stock, valued at $5,616,039. This represents a 4.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 3,700 shares of Braze stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.77, for a total transaction of $169,349.00. Following the completion of the sale, the chief accounting officer now directly owns 54,784 shares in the company, valued at $2,507,463.68. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,583 shares of company stock worth $7,325,468 in the last three months. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Braze during the 2nd quarter worth about $50,000. KBC Group NV increased its stake in Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares in the last quarter. Amalgamated Bank lifted its position in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares in the last quarter. Evoke Wealth LLC purchased a new position in shares of Braze in the second quarter valued at approximately $215,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Braze during the second quarter worth approximately $229,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Stock Up 2.2 %

Shares of BRZE opened at $45.09 on Wednesday. The company has a 50 day moving average of $41.57 and a two-hundred day moving average of $38.56. Braze has a twelve month low of $29.18 and a twelve month high of $61.53. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -39.55 and a beta of 1.11.

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.