Braze (NASDAQ:BRZE) Price Target Cut to $45.00 by Analysts at Raymond James

Braze (NASDAQ:BRZE) had its target price trimmed by Raymond James from $48.00 to $45.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Oppenheimer restated an “outperform” rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Wells Fargo & Company dropped their target price on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Finally, Piper Sandler increased their target price on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $52.45.

Braze Trading Up 2.7 %

BRZE opened at $37.03 on Thursday. The stock has a 50-day moving average price of $40.20 and a 200-day moving average price of $38.04. Braze has a 12-month low of $29.18 and a 12-month high of $52.26. The stock has a market capitalization of $3.83 billion, a P/E ratio of -32.48 and a beta of 1.17.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 3,486 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the completion of the transaction, the general counsel now owns 182,109 shares of the company’s stock, valued at approximately $7,288,002.18. This represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was 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 $2,507,463.68. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock valued at $3,841,921 in the last 90 days. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of 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 in the last quarter. Aster Capital Management DIFC Ltd increased its position in Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after buying an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after buying an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Braze during the fourth quarter valued at $47,000. Finally, KBC Group NV raised its stake in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after buying an additional 615 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Company Profile

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.