Braze (NASDAQ:BRZE) Research Coverage Started at Stephens

Stephens initiated coverage on shares of Braze (NASDAQ:BRZE) in a report released on Wednesday, MarketBeat reports. The brokerage issued an overweight rating and a $43.00 price target on the stock.

A number of other research firms also recently issued reports on BRZE. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Braze in a research report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Macquarie raised their price target on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. DA Davidson reduced their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company reduced their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. One investment 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.com, the stock currently has a consensus rating of “Buy” and an average price target of $52.45.

Braze Price Performance

Shares of BRZE stock opened at $37.03 on Wednesday. The firm has a market cap of $3.83 billion, a P/E ratio of -32.48 and a beta of 1.17. Braze has a 1-year low of $29.18 and a 1-year high of $53.74. The firm has a fifty day moving average of $40.20 and a two-hundred day moving average of $38.08.

Insider Transactions at Braze

In other news, CAO Pankaj Malik sold 3,700 shares of Braze 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 transaction, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at $2,507,463.68. The trade was a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Jonathan Hyman sold 5,210 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the transaction, the chief technology officer now directly owns 157,810 shares in the company, valued at $6,441,804.20. This represents a 3.20 % 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.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of Braze by 4.7% in the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock worth $2,434,000 after acquiring an additional 2,605 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Braze in the fourth quarter worth approximately $1,868,000. State of Wyoming purchased a new position in shares of Braze in the fourth quarter worth approximately $197,000. ProShare Advisors LLC increased its position in shares of Braze by 33.8% in the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock worth $1,028,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in shares of Braze during the fourth quarter worth approximately $1,686,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.