Raymond James Cuts Braze (NASDAQ:BRZE) Price Target to $45.00

Braze (NASDAQ:BRZE) had its price objective cut by Raymond James from $48.00 to $45.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently weighed in on BRZE. Oppenheimer reissued an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. Wells Fargo & Company cut their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Citigroup boosted their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Macquarie boosted their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $52.45.

Braze Trading Up 2.7 %

BRZE stock opened at $37.03 on Thursday. The stock’s fifty day simple moving average is $40.20 and its two-hundred day simple moving average is $38.04. Braze has a 1-year low of $29.18 and a 1-year high of $52.26. The stock has a market cap of $3.83 billion, a P/E ratio of -32.48 and a beta of 1.17.

Insider Activity at Braze

In related news, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the sale, the chief executive officer now directly owns 564,766 shares in the company, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 14,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.52, for a total value of $637,280.00. Following the sale, the general counsel now owns 199,520 shares in the company, valued at approximately $9,082,150.40. The trade was a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,470 shares of company stock worth $3,841,921. 24.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Braze

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in 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 acquiring an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd increased its stake in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after acquiring an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Braze in the 4th quarter worth about $47,000. Finally, KBC Group NV increased its stake in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares during the last quarter. 90.47% of the stock is currently owned by 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.