Brokerages Set Braze, Inc. (NASDAQ:BRZE) Target Price at $63.65

Braze, Inc. (NASDAQ:BRZE) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $63.76.

BRZE has been the topic of a number of research analyst reports. Raymond James boosted their target price on Braze from $52.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 7th. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Thursday, March 21st. Piper Sandler boosted their target price on Braze from $57.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, December 7th. Needham & Company LLC boosted their target price on Braze from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Finally, Barclays boosted their target price on Braze from $65.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, December 7th.

Braze Stock Performance

BRZE opened at $50.58 on Thursday. The business’s fifty day moving average is $55.05 and its two-hundred day moving average is $51.24. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -36.39 and a beta of 1.21. Braze has a one year low of $25.76 and a one year high of $61.53.

Insider Activity at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the transaction, the director now directly owns 11,056 shares in the company, valued at $662,364.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total value of $746,700.00. Following the completion of the transaction, the insider now directly owns 171,709 shares in the company, valued at $8,547,674.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $59.91, for a total value of $89,865.00. Following the sale, the director now owns 11,056 shares of the company’s stock, valued at $662,364.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,471 shares of company stock worth $4,196,153. 26.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fred Alger Management LLC acquired a new stake in Braze during the third quarter worth about $29,000. BluePath Capital Management LLC acquired a new stake in Braze during the third quarter worth about $31,000. Neo Ivy Capital Management acquired a new stake in Braze during the fourth quarter worth about $40,000. Canton Hathaway LLC acquired a new stake in Braze during the fourth quarter worth about $42,000. Finally, Comerica Bank increased its stake in Braze by 377.2% during the fourth quarter. Comerica Bank now owns 940 shares of the company’s stock worth $50,000 after acquiring an additional 743 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Company Profile

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.