Braze’s (BRZE) “Buy” Rating Reaffirmed at Needham & Company LLC

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $50.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 19.45% from the company’s previous close.

A number of other research firms have also issued reports on BRZE. UBS Group dropped their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Stifel Nicolaus upped their price objective on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating 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 report on Wednesday, December 11th. The Goldman Sachs Group lowered their target price on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Piper Sandler lifted their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $41.86 on Wednesday. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The firm has a market capitalization of $4.33 billion, a PE ratio of -36.72 and a beta of 1.11. The business’s 50 day moving average price is $40.45 and its 200-day moving average price is $38.36.

Insider Transactions at Braze

In other Braze news, General Counsel Susan Wiseman sold 41,210 shares of Braze stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $45.09, for a total transaction of $1,858,158.90. Following the completion of the sale, the general counsel now directly owns 199,520 shares of the company’s stock, valued at $8,996,356.80. The trade was a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Myles Kleeger sold 37,900 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $45.11, for a total value of $1,709,669.00. Following the completion of the transaction, the insider now owns 184,396 shares in the company, valued at approximately $8,318,103.56. The trade was a 17.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,083 shares of company stock valued at $7,260,773. 24.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Braze

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in Braze by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 75,371 shares of the company’s stock worth $2,927,000 after acquiring an additional 2,407 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of Braze during the second quarter worth $565,000. Renaissance Technologies LLC increased its stake in Braze by 78.1% in the 2nd quarter. Renaissance Technologies LLC now owns 371,600 shares of the company’s stock valued at $14,433,000 after buying an additional 163,000 shares during the period. Blair William & Co. IL increased its stake in Braze by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after buying an additional 283 shares during the period. Finally, Seven Eight Capital LP raised its position in Braze by 78.1% during the 2nd quarter. Seven Eight Capital LP now owns 47,283 shares of the company’s stock worth $1,836,000 after buying an additional 20,741 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.