DA Davidson Has Lowered Expectations for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its target price decreased by investment analysts at DA Davidson from $55.00 to $50.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 21.65% from the stock’s previous close.

Several other equities analysts also recently weighed in on BRZE. Macquarie initiated coverage on Braze in a research report on Thursday, October 31st. They set a “neutral” rating and a $30.00 price target for the company. Barclays cut their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. JPMorgan Chase & Co. decreased their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Loop Capital reissued a “buy” rating and set a $75.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Braze currently has an average rating of “Moderate Buy” and an average target price of $53.63.

Braze Trading Down 1.7 %

Shares of BRZE stock traded down $0.70 during trading hours on Tuesday, hitting $41.10. The company’s stock had a trading volume of 2,318,637 shares, compared to its average volume of 1,074,525. Braze has a twelve month low of $29.18 and a twelve month high of $61.53. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -34.83 and a beta of 1.15. The business has a fifty day moving average of $34.29 and a 200-day moving average of $37.25.

Insider Transactions at Braze

In related news, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the transaction, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Magnuson sold 17,933 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $617,791.85. Following the sale, the chief executive officer now directly owns 582,816 shares in the company, valued at $20,078,011.20. This trade represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,979 shares of company stock valued at $3,688,914. 24.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Braze

A number of large investors have recently bought and sold shares of BRZE. Quarry LP acquired a new position in shares of Braze during the second quarter valued at $50,000. Comerica Bank lifted its position in 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 last quarter. KBC Group NV boosted its stake in 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 purchasing an additional 615 shares during the period. Amalgamated Bank grew its position in Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the last quarter. Finally, Canton Hathaway LLC increased its stake in shares of Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after purchasing an additional 1,187 shares during the period. Institutional investors 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.