Stifel Nicolaus Raises Braze (NASDAQ:BRZE) Price Target to $48.00

Braze (NASDAQ:BRZE) had its target price upped by Stifel Nicolaus from $37.00 to $48.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on BRZE. DA Davidson cut their price target on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. The Goldman Sachs Group reduced their target price on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Loop Capital reissued a “buy” rating and issued a $75.00 price target on shares of Braze in a research note on Tuesday, September 24th. TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.63.

Braze Stock Performance

BRZE opened at $40.95 on Tuesday. The company has a fifty day moving average of $34.46 and a two-hundred day moving average of $37.25. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -35.92 and a beta of 1.15. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

Insider Activity

In related news, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the transaction, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $32.12, for a total value of $144,540.00. Following the sale, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at approximately $6,944,600.96. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,979 shares of company stock valued at $3,688,914. 24.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

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