Braze (NASDAQ:BRZE) Now Covered by Analysts at Stephens

Stephens assumed coverage on shares of Braze (NASDAQ:BRZE) in a research note published on Wednesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $43.00 price objective on the stock.

BRZE has been the subject of a number of other reports. Macquarie lifted their price objective on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Piper Sandler boosted their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Oppenheimer reiterated an “outperform” rating and issued a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Finally, Citigroup increased their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and an average price target of $53.20.

Braze Stock Performance

BRZE stock opened at $36.32 on Wednesday. The firm has a market cap of $3.76 billion, a PE ratio of -31.86 and a beta of 1.17. The firm has a fifty day moving average price of $40.47 and a 200 day moving average price of $38.15. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $55.47.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the completion of the sale, the general counsel now owns 182,109 shares of the company’s stock, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,784 shares in the company, valued at approximately $2,507,463.68. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock worth $3,841,921 in the last three months. Corporate insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors have recently made changes to their positions in BRZE. Mercer Global Advisors Inc. ADV lifted its stake in Braze by 2.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock worth $559,000 after acquiring an additional 316 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Braze by 3.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after purchasing an additional 346 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 405 shares during the period. KBC Group NV boosted its stake in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its holdings in Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after buying an additional 827 shares during the period. Hedge funds and other 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.