Braze (NASDAQ:BRZE) Upgraded to Strong-Buy at Stephens

Stephens upgraded shares of Braze (NASDAQ:BRZE) to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Braze in a report on Monday, February 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. Finally, Citigroup boosted their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Braze presently has an average rating of “Buy” and an average price target of $53.20.

Braze Price Performance

Shares of BRZE opened at $36.32 on Tuesday. The company has a market cap of $3.76 billion, a P/E ratio of -31.86 and a beta of 1.17. Braze has a 12 month low of $29.18 and a 12 month high of $55.47. The stock has a fifty day moving average price of $40.47 and a 200 day moving average price of $38.15.

Insider Activity

In other Braze news, insider Myles Kleeger sold 8,365 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the sale, the insider now owns 168,882 shares of the company’s stock, valued at $6,775,545.84. This trade represents a 4.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $45.77, for a total value of $169,349.00. Following the completion of the sale, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at $2,507,463.68. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,470 shares of company stock valued at $3,841,921. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after acquiring an additional 405 shares during the period. Aster Capital Management DIFC Ltd increased its position in shares of 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 purchasing an additional 827 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Braze in the fourth quarter worth $47,000. Finally, KBC Group NV boosted its stake in Braze by 41.5% during the third 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. Institutional investors own 90.47% of the company’s stock.

About Braze

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.