Braze (NASDAQ:BRZE) Stock Rating Upgraded by Stephens

Braze (NASDAQ:BRZE) was upgraded by analysts at Stephens to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on BRZE. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Piper Sandler boosted their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Citigroup upped their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company cut their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 26th. Finally, Macquarie upped their price target on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Braze currently has a consensus rating of “Buy” and an average target price of $53.20.

Braze Stock Up 2.3 %

BRZE stock opened at $36.32 on Tuesday. Braze has a twelve month low of $29.18 and a twelve month high of $55.47. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -31.86 and a beta of 1.17. The firm’s fifty day simple moving average is $40.47 and its two-hundred day simple moving average is $38.15.

Insider Activity at Braze

In related news, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction that occurred on 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 $2,507,463.68. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Susan Wiseman sold 14,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $45.52, for a total transaction of $637,280.00. Following the completion of the transaction, the general counsel now directly owns 199,520 shares of the company’s stock, valued at $9,082,150.40. The trade was a 6.56 % decrease in their ownership of the stock. 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 three months. 24.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Braze

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in 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 buying an additional 405 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after buying an additional 827 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after buying an additional 928 shares during the period. SBI Securities Co. Ltd. acquired a new position in Braze in the 4th quarter worth approximately $47,000. Finally, KBC Group NV increased its holdings in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 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.