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

Stephens upgraded shares of Braze (NASDAQ:BRZE) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Wells Fargo & Company reduced 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. Citigroup increased their target price on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Macquarie upped their price target on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus upped their price target 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. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $52.70.

Braze Stock Down 0.7 %

Braze stock opened at $36.05 on Tuesday. Braze has a twelve month low of $29.18 and a twelve month high of $55.47. The firm has a 50 day moving average price of $40.31 and a 200-day moving average price of $38.13. The company has a market capitalization of $3.73 billion, a P/E ratio of -31.62 and a beta of 1.17.

Insider Transactions at Braze

In other news, insider Myles Kleeger sold 8,365 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the transaction, the insider now owns 168,882 shares of the company’s stock, valued at $6,775,545.84. This represents a 4.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Susan Wiseman sold 14,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.52, for a total transaction of $637,280.00. Following the completion of the transaction, the general counsel now directly owns 199,520 shares in the company, valued at $9,082,150.40. The trade was a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock valued at $3,841,921 in the last quarter. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings 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 buying an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Braze by 9,188.9% during the 4th 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 last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Braze during the 4th quarter valued at $47,000. Finally, KBC Group NV grew its holdings in shares of Braze by 41.5% during the 3rd 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 last quarter. 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.