Braze (NASDAQ:BRZE) Price Target Raised to $51.00

Braze (NASDAQ:BRZE) had its price objective hoisted by Citigroup from $47.00 to $51.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the company. The Goldman Sachs Group cut their price target on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price (down previously from $70.00) on shares of Braze in a research report on Tuesday. Barclays lowered their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. TD Cowen cut their price objective on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Braze in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

Braze Stock Performance

Shares of BRZE stock opened at $41.63 on Wednesday. The stock has a fifty day moving average price of $35.11 and a 200 day moving average price of $37.32. The stock has a market cap of $4.28 billion, a PE ratio of -36.52 and a beta of 1.15. Braze has a 1 year low of $29.18 and a 1 year high of $61.53.

Insider Activity

In other Braze news, CTO Jonathan Hyman sold 6,930 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now owns 163,020 shares of the company’s stock, valued at approximately $5,616,039. The trade was a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now owns 56,830 shares of the company’s stock, valued at $1,720,244.10. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,979 shares of company stock valued at $3,688,914 in the last 90 days. 24.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Braze

Large investors have recently made changes to their positions in the business. Comerica Bank lifted its stake in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Braze during the second quarter valued at $2,575,000. Canton Hathaway LLC grew its position in shares of Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 shares during the last quarter. AMI Asset Management Corp acquired a new stake in shares of Braze in the 2nd quarter worth about $1,033,000. Finally, Bank of New York Mellon Corp lifted its position in Braze by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock valued at $18,554,000 after purchasing an additional 73,764 shares during the last quarter. Institutional investors and hedge funds 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.