Citigroup Issues Positive Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its target price hoisted by analysts at Citigroup from $47.00 to $51.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 21.40% from the stock’s current price.

A number of other equities research analysts also recently commented on BRZE. Stifel Nicolaus increased their price objective on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Piper Sandler increased their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Oppenheimer reissued an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Stock Down 0.9 %

Shares of BRZE opened at $42.01 on Wednesday. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The firm’s 50 day moving average price is $34.90 and its 200 day moving average price is $37.32. The company has a market cap of $4.32 billion, a P/E ratio of -36.85 and a beta of 1.15.

Insider Buying and Selling

In other news, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares of the company’s stock, valued at $273,919.05. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,979 shares of company stock worth $3,688,914 in the last 90 days. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Braze in the second quarter valued at about $50,000. Comerica Bank lifted its stake in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the period. KBC Group NV lifted its stake in shares of Braze by 41.5% in 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 during the period. Amalgamated Bank lifted its stake in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares during the period. Finally, Canton Hathaway LLC lifted its stake in shares of Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after purchasing an additional 1,187 shares during the period. 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.