Braze, Inc. (NASDAQ:BRZE) Given Average Recommendation of “Moderate Buy” by Brokerages

Braze, Inc. (NASDAQ:BRZE) has been given a consensus recommendation of “Moderate Buy” by the twenty research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $53.74.

Several equities research analysts recently commented on the company. Citigroup lifted their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. JMP Securities restated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. Finally, UBS Group lowered their price target on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th.

Braze Trading Up 0.0 %

Braze stock opened at $44.11 on Wednesday. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The stock has a fifty day simple moving average of $41.22 and a two-hundred day simple moving average of $38.48. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -38.69 and a beta of 1.11.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 41,210 shares of Braze stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.09, for a total transaction of $1,858,158.90. Following the sale, the general counsel now owns 199,520 shares in the company, valued at $8,996,356.80. This trade represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $43.13, for a total transaction of $64,695.00. Following the transaction, the director now owns 15,269 shares of the company’s stock, valued at approximately $658,551.97. This represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,583 shares of company stock worth $7,325,468 over the last three months. 24.03% of the stock is currently owned by company insiders.

Institutional Trading of Braze

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Braze by 146.9% during the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after purchasing an additional 1,075,998 shares in the last quarter. State Street Corp lifted its position in shares of Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after buying an additional 279,050 shares in the last quarter. Geode Capital Management LLC grew its holdings in Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after buying an additional 229,660 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Braze by 69.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after acquiring an additional 612,400 shares during the last quarter. Finally, Stephens Investment Management Group LLC purchased a new stake in shares of Braze during the 3rd quarter worth approximately $20,794,000. 90.47% of the stock is currently 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.