Braze’s (BRZE) “Outperform” Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of Braze (NASDAQ:BRZE) in a research note published on Thursday morning,RTT News reports.

A number of other research analysts have also recently weighed in on BRZE. 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. Oppenheimer reissued an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. DA Davidson cut their target price on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. TD Cowen decreased their price target on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, JMP Securities restated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Stock Performance

NASDAQ BRZE opened at $44.31 on Thursday. The business’s 50 day moving average price is $36.52 and its 200-day moving average price is $37.51. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The company has a market cap of $4.55 billion, a P/E ratio of -38.87 and a beta of 1.15.

Insider Transactions at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $42.02, for a total value of $63,030.00. Following the completion of the transaction, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $641,603.38. The trade was a 8.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fernando Machado sold 1,377 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the sale, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,090 shares of company stock valued at $7,906,833. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several hedge funds have recently modified their holdings of the company. Quarry LP purchased a new position in shares of Braze in the 2nd quarter worth approximately $50,000. KBC Group NV increased its position in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares during the last quarter. Evoke Wealth LLC acquired a new stake in shares of Braze in the 2nd quarter worth $215,000. Finally, Canada Pension Plan Investment Board purchased a new position in Braze during the 2nd quarter worth $229,000. 90.47% of the stock is owned by hedge funds and other 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.