Raymond James Lowers Braze (NASDAQ:BRZE) Price Target to $65.00

Braze (NASDAQ:BRZE) had its price target decreased by analysts at Raymond James from $75.00 to $65.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 47.76% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Braze in a research report on Thursday. DA Davidson reissued a “buy” rating and issued a $65.00 price objective on shares of Braze in a research report on Monday. Oppenheimer reissued an “outperform” rating and issued a $75.00 price objective on shares of Braze in a research report on Thursday. UBS Group raised shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Thursday, March 21st. Finally, Barclays raised their price target on shares of Braze from $65.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.29.

Braze Price Performance

BRZE stock traded down $6.59 during trading hours on Thursday, reaching $43.99. The stock had a trading volume of 3,036,251 shares, compared to its average volume of 761,864. The stock has a market capitalization of $4.39 billion, a PE ratio of -31.66 and a beta of 1.21. The stock has a 50-day simple moving average of $55.05 and a 200 day simple moving average of $51.24. Braze has a fifty-two week low of $25.76 and a fifty-two week high of $61.53.

Insider Activity

In related news, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total transaction of $746,700.00. Following the sale, the insider now directly owns 171,709 shares in the company, valued at approximately $8,547,674.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total transaction of $746,700.00. Following the completion of the transaction, the insider now directly owns 171,709 shares in the company, valued at $8,547,674.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 1,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $53.73, for a total value of $53,730.00. Following the transaction, the chief accounting officer now owns 77,853 shares of the company’s stock, valued at $4,183,041.69. The disclosure for this sale can be found here. Insiders sold 75,471 shares of company stock worth $4,196,153 in the last quarter. 26.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Braze by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after purchasing an additional 480,179 shares in the last quarter. Morgan Stanley lifted its stake in shares of Braze by 20.1% in the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after acquiring an additional 899,894 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Braze by 296.6% in the 2nd quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock valued at $114,050,000 after acquiring an additional 1,947,831 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Braze by 12.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock valued at $104,054,000 after acquiring an additional 263,250 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Braze by 62.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,090,100 shares of the company’s stock valued at $111,047,000 after acquiring an additional 805,000 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.