Braze (NASDAQ:BRZE) Coverage Initiated at Stephens

Equities research analysts at Stephens assumed coverage on shares of Braze (NASDAQ:BRZE) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $43.00 price target on the stock. Stephens’ target price would suggest a potential upside of 19.28% from the stock’s previous close.

Several other equities analysts have also issued reports on BRZE. William Blair reissued an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Citigroup boosted their price target on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a report on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Finally, Stifel Nicolaus upped their target price on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment 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. According to data from MarketBeat.com, Braze currently has an average rating of “Buy” and an average target price of $52.70.

Braze Stock Down 0.7 %

Shares of BRZE stock opened at $36.05 on Wednesday. Braze has a 12-month low of $29.18 and a 12-month high of $55.47. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -31.62 and a beta of 1.17. The firm has a fifty day moving average of $40.31 and a 200-day moving average of $38.13.

Insiders Place Their Bets

In other Braze news, CTO Jonathan Hyman sold 5,210 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the sale, the chief technology officer now directly owns 157,810 shares of the company’s stock, valued at $6,441,804.20. The trade was a 3.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Susan Wiseman sold 3,486 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the completion of the sale, the general counsel now directly owns 182,109 shares in the company, valued at approximately $7,288,002.18. The trade was a 1.88 % decrease in their ownership of the stock. 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 three months. 24.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Braze

A number of institutional investors and hedge funds have recently modified their holdings of BRZE. ShawSpring Partners LLC bought a new stake in shares of Braze in the 4th quarter valued at about $62,837,000. Norges Bank bought a new stake in shares of Braze in the 4th quarter valued at about $62,639,000. Vanguard Group Inc. raised its holdings in shares of Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Braze by 121.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock valued at $92,028,000 after purchasing an additional 1,203,149 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of Braze in the 4th quarter valued at about $50,000,000. 90.47% of the stock is 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.