Raymond James Lowers Braze (NASDAQ:BRZE) Price Target to $65.00

Braze (NASDAQ:BRZE) had its target price reduced by investment analysts at Raymond James from $75.00 to $65.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 47.76% from the company’s previous close.

A number of other brokerages have also commented on BRZE. The Goldman Sachs Group boosted their price objective on shares of Braze from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Barclays boosted their target price on shares of Braze from $65.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, December 7th. JPMorgan Chase & Co. dropped their target price on shares of Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday. JMP Securities boosted their target price on shares of Braze from $56.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Thursday, December 7th. Finally, Scotiabank dropped their target price on shares of Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.29.

Braze Trading Down 13.0 %

Shares of BRZE traded down $6.59 during mid-day trading on Thursday, reaching $43.99. The company had a trading volume of 3,036,251 shares, compared to its average volume of 761,864. Braze has a fifty-two week low of $25.76 and a fifty-two week high of $61.53. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of -31.66 and a beta of 1.21. The firm has a fifty day simple moving average of $55.05 and a 200-day simple moving average of $51.24.

Insider Buying and Selling at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the sale, the director now directly owns 11,056 shares of the company’s stock, valued at approximately $662,364.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Myles Kleeger sold 6,874 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $56.87, for a total transaction of $390,924.38. Following the completion of the sale, the insider now directly owns 231,083 shares of the company’s stock, valued at $13,141,690.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total transaction of $89,865.00. Following the sale, the director now directly owns 11,056 shares of the company’s stock, valued at $662,364.96. The disclosure for this sale can be found here. Insiders sold 75,471 shares of company stock valued at $4,196,153 in the last ninety days. Company insiders own 26.48% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently made changes to their positions in BRZE. Fred Alger Management LLC acquired a new stake in shares of Braze in the third quarter valued at approximately $29,000. BluePath Capital Management LLC acquired a new stake in shares of Braze in the third quarter valued at approximately $31,000. Neo Ivy Capital Management acquired a new stake in shares of Braze in the fourth quarter valued at approximately $40,000. Canton Hathaway LLC acquired a new stake in shares of Braze in the fourth quarter valued at approximately $42,000. Finally, Comerica Bank raised its holdings in shares of Braze by 377.2% in the fourth quarter. Comerica Bank now owns 940 shares of the company’s stock valued at $50,000 after purchasing an additional 743 shares during the last quarter. Institutional investors and hedge funds 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 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.