Braze, Inc. (NASDAQ:BRZE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Braze, Inc. (NASDAQ:BRZE) has earned a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $53.74.

A number of equities analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and set a $68.00 target price on shares of Braze in a research note on Tuesday, September 24th. Loop Capital reissued a “buy” rating and issued a $75.00 price objective on shares of Braze in a research note on Tuesday, September 24th. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Stifel Nicolaus lifted their target price on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Oppenheimer restated an “outperform” rating and set a $51.00 price target on shares of Braze in a report on Tuesday, December 10th.

Braze Price Performance

Shares of BRZE stock opened at $42.90 on Friday. The stock has a market capitalization of $4.44 billion, a PE ratio of -37.63 and a beta of 1.15. The business’s 50 day simple moving average is $37.53 and its 200 day simple moving average is $37.71. Braze has a one year low of $29.18 and a one year high of $61.53.

Insiders Place Their Bets

In related news, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 9,225 shares of Braze stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $317,801.25. Following the completion of the transaction, the insider now owns 190,738 shares of the company’s stock, valued at $6,570,924.10. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,090 shares of company stock worth $7,906,833 over the last quarter. 24.03% of the stock is currently owned by company insiders.

Institutional Trading of Braze

A number of institutional investors have recently added to or reduced their stakes in BRZE. JPMorgan Chase & Co. increased its position in shares of Braze by 146.9% during the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after buying an additional 1,075,998 shares during the period. Virtu Financial LLC bought a new stake in Braze during the 3rd quarter worth approximately $253,000. Geode Capital Management LLC lifted its stake in Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after purchasing an additional 229,660 shares in the last quarter. Vestcor Inc bought a new position in Braze in the 3rd quarter valued at $1,617,000. Finally, Bullseye Asset Management LLC grew its position in shares of Braze by 14.3% during the 3rd quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock valued at $801,000 after purchasing an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.