William Blair Reiterates “Outperform” Rating for Braze (NASDAQ:BRZE)

Braze (NASDAQ:BRZE)‘s stock had its “outperform” rating restated by equities researchers at William Blair in a report issued on Thursday, RTT News reports.

Other analysts also recently issued research reports about the company. Needham & Company LLC raised their price objective on Braze from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. UBS Group raised Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Thursday, March 21st. BTIG Research boosted their target price on Braze from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. The Goldman Sachs Group boosted their target price on Braze from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Finally, Canaccord Genuity Group upped their target price on Braze from $55.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and an average target price of $64.82.

Braze Price Performance

BRZE opened at $50.58 on Thursday. Braze has a fifty-two week low of $25.76 and a fifty-two week high of $61.53. The business has a 50-day moving average of $55.05 and a 200-day moving average of $51.24. The company has a market capitalization of $5.05 billion, a PE ratio of -36.39 and a beta of 1.21.

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 15,000 shares of Braze 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 transaction, the insider now directly owns 171,709 shares of the company’s stock, valued at approximately $8,547,674.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William Magnuson sold 11,874 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $57.51, for a total value of $682,873.74. Following the transaction, the chief executive officer now owns 636,514 shares of the company’s stock, valued at $36,605,920.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $49.78, for a total transaction of $746,700.00. Following the sale, the insider now owns 171,709 shares of the company’s stock, valued at $8,547,674.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,471 shares of company stock valued at $4,196,153. 26.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

A number of institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Braze in the second quarter worth about $688,000. PEAK6 Investments LLC bought a new stake in shares of Braze during the second quarter valued at approximately $311,000. Principal Financial Group Inc. bought a new stake in shares of Braze during the third quarter valued at approximately $4,377,000. Morgan Stanley increased its position in shares of Braze by 20.1% during the third 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 in the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Braze during the third quarter valued at approximately $283,000. 90.47% of the stock is currently 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 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.