DA Davidson Reiterates Buy Rating for Braze (NASDAQ:BRZE)

DA Davidson restated their buy rating on shares of Braze (NASDAQ:BRZE) in a research report released on Wednesday,Benzinga reports. They currently have a $50.00 price target on the stock.

BRZE has been the subject of several other reports. Macquarie increased their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Oppenheimer reissued an “outperform” rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. Stephens began coverage on shares of Braze in a research note on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Finally, Citigroup upped their price target on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research report 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $52.05.

Braze Trading Down 4.6 %

NASDAQ:BRZE opened at $37.33 on Wednesday. The firm has a market cap of $3.86 billion, a P/E ratio of -32.75 and a beta of 1.17. The stock has a 50 day moving average of $39.94 and a two-hundred day moving average of $37.98. Braze has a 12 month low of $29.18 and a 12 month high of $50.84.

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 14,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.52, for a total transaction of $637,280.00. Following the transaction, the general counsel now owns 199,520 shares of the company’s stock, valued at approximately $9,082,150.40. This represents a 6.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,700 shares of Braze stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.77, for a total value of $169,349.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This represents a 6.33 % 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 currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in Braze by 168.0% during 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 in the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after acquiring an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Braze by 8,436.4% in the fourth 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 period. SBI Securities Co. Ltd. purchased a new position in Braze in the fourth quarter valued at $47,000. Finally, Plato Investment Management Ltd purchased a new stake in Braze during the 4th quarter worth about $115,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.