Braze (NASDAQ:BRZE) Price Target Raised to $48.00

Braze (NASDAQ:BRZE) had its price target lifted by Piper Sandler from $40.00 to $48.00 in a report published on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other analysts also recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company decreased their price target on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Oppenheimer decreased their target price on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Finally, Macquarie assumed coverage on shares of Braze in a report on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target on the stock. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

Braze Trading Down 0.9 %

Shares of BRZE opened at $42.01 on Tuesday. The company’s fifty day simple moving average is $34.90 and its 200-day simple moving average is $37.32. The company has a market cap of $4.32 billion, a P/E ratio of -36.85 and a beta of 1.15. Braze has a twelve month low of $29.18 and a twelve month high of $61.53.

Insider Activity at Braze

In related news, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares in the company, valued at $273,919.05. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Myles Kleeger sold 6,342 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total transaction of $228,502.26. Following the completion of the sale, the insider now directly owns 184,396 shares in the company, valued at approximately $6,643,787.88. The trade was a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,979 shares of company stock valued at $3,688,914 in the last ninety days. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors and hedge funds have recently modified their holdings of BRZE. Comerica Bank lifted its stake in shares of Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the period. Blair William & Co. IL increased its holdings in Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after buying an additional 283 shares in the last quarter. Amalgamated Bank raised its position in shares of Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares during the period. Creative Planning boosted its stake in shares of Braze by 1.7% during the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after acquiring an additional 384 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares during the period. Institutional investors and hedge funds 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.