Analysts Set Braze, Inc. (NASDAQ:BRZE) PT at $53.74

Shares of Braze, Inc. (NASDAQ:BRZE) have been assigned a consensus rating of “Moderate Buy” from the twenty brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $53.74.

A number of analysts have recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. Loop Capital reiterated a “buy” rating and set a $75.00 target price on shares of Braze in a research note on Tuesday, September 24th. The Goldman Sachs Group dropped their price target on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Macquarie upped their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th.

Insider Transactions at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $42.02, for a total value of $63,030.00. Following the completion of the transaction, the director now owns 15,269 shares of the company’s stock, valued at $641,603.38. This represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William Magnuson sold 17,933 shares of Braze stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $617,791.85. Following the sale, the chief executive officer now directly owns 582,816 shares in the company, valued at $20,078,011.20. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,583 shares of company stock valued at $7,325,468 over the last three months. Corporate insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after acquiring an additional 57,713 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Braze in the second quarter worth about $10,166,000. Victory Capital Management Inc. lifted its position in shares of Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after buying an additional 19,567 shares in the last quarter. Mackenzie Financial Corp bought a new position in Braze during the second quarter valued at approximately $971,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Braze by 195.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after buying an additional 51,411 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

NASDAQ BRZE opened at $44.11 on Wednesday. Braze has a one year low of $29.18 and a one year high of $61.53. The stock has a 50-day moving average of $41.22 and a 200 day moving average of $38.50. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of -38.69 and a beta of 1.11.

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.