Braze (NASDAQ:BRZE) Given New $45.00 Price Target at Raymond James

Braze (NASDAQ:BRZE) had its price objective cut by stock analysts at Raymond James from $48.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 23.90% from the company’s current price.

BRZE has been the topic of several other research reports. Macquarie increased their price objective on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Piper Sandler raised their price target on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Stephens assumed coverage on shares of Braze in a report on Wednesday. They issued an “overweight” rating and a $43.00 price objective for the company. Citigroup raised their target price on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $52.70.

Braze Trading Up 2.3 %

Shares of NASDAQ BRZE opened at $36.32 on Thursday. The firm has a market cap of $3.76 billion, a P/E ratio of -31.86 and a beta of 1.17. The business’s 50 day moving average is $40.47 and its 200-day moving average is $38.15. Braze has a 1-year low of $29.18 and a 1-year high of $55.47.

Insider Buying and Selling

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the completion of the transaction, the general counsel now owns 182,109 shares of the company’s stock, valued at $7,288,002.18. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Myles Kleeger sold 10,000 shares of the 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 completion of the transaction, the insider now owns 184,396 shares of the company’s stock, valued at $8,377,110.28. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock worth $3,841,921 in the last three months. 24.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BRZE. California State Teachers Retirement System increased its position in Braze by 4.7% in the 4th quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock valued at $2,434,000 after acquiring an additional 2,605 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Braze in the fourth quarter worth $1,868,000. State of Wyoming acquired a new stake in Braze in the fourth quarter valued at $197,000. ProShare Advisors LLC increased its holdings in Braze by 33.8% in the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock valued at $1,028,000 after purchasing an additional 6,200 shares during the period. Finally, Nomura Holdings Inc. bought a new position in Braze during the 4th quarter worth $1,686,000. 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.