Braze, Inc. (NASDAQ:BRZE) Receives $43.65 Average Price Target from Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have been given a consensus recommendation of “Moderate Buy” by the twenty-three brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $43.65.

BRZE has been the topic of several recent research reports. Mizuho upped their price objective on Braze from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Citigroup boosted their target price on shares of Braze from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 target price on shares of Braze in a report on Wednesday, December 10th. JPMorgan Chase & Co. decreased their price target on shares of Braze from $45.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Finally, Wolfe Research upgraded shares of Braze to an “overweight” rating in a report on Wednesday, December 10th.

Braze Stock Performance

Shares of NASDAQ:BRZE opened at $18.88 on Monday. The business’s fifty day moving average price is $20.85 and its two-hundred day moving average price is $26.84. The stock has a market cap of $2.12 billion, a PE ratio of -17.16 and a beta of 1.08. Braze has a one year low of $15.26 and a one year high of $43.89.

Insider Buying and Selling at Braze

In related news, insider Astha Malik sold 14,049 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $237,849.57. Following the sale, the insider owned 205,289 shares in the company, valued at approximately $3,475,542.77. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 5,763 shares of Braze stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $97,567.59. Following the completion of the sale, the general counsel directly owned 214,031 shares of the company’s stock, valued at $3,623,544.83. The trade was a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 60,676 shares of company stock valued at $1,027,661. 18.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Braze

A number of hedge funds and other institutional investors have recently made changes to their positions in BRZE. Vanguard Group Inc. increased its stake in Braze by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock valued at $337,793,000 after purchasing an additional 892,635 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Braze by 10.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,687,928 shares of the company’s stock worth $76,445,000 after buying an additional 261,351 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Braze by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock valued at $69,831,000 after buying an additional 139,133 shares during the period. Battery Management CORP. grew its holdings in Braze by 70.2% in the 3rd quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock valued at $68,967,000 after buying an additional 1,000,000 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Braze by 28.8% during the 2nd quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock valued at $65,197,000 after acquiring an additional 518,103 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.