Braze (NASDAQ:BRZE) Raised to “Strong-Buy” at Stephens

Braze (NASDAQ:BRZE) was upgraded by equities researchers at Stephens to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Braze in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. DA Davidson dropped their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Citigroup lifted their price target on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Macquarie lifted their price target on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Braze currently has an average rating of “Buy” and a consensus price target of $53.20.

Braze Price Performance

Shares of NASDAQ BRZE opened at $36.32 on Tuesday. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -31.86 and a beta of 1.17. Braze has a 12 month low of $29.18 and a 12 month high of $55.47. The firm’s 50 day simple moving average is $40.47 and its 200-day simple moving average is $38.15.

Insider Transactions at Braze

In related news, CAO Pankaj Malik sold 3,700 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the completion of the sale, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 3,486 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the sale, the general counsel now directly owns 182,109 shares of the company’s stock, valued at $7,288,002.18. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock worth $3,841,921 in the last quarter. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after acquiring an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after acquiring an additional 928 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Braze in the 4th quarter valued at about $47,000. Finally, KBC Group NV grew its position in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

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.