Braze, Inc. (NASDAQ:BRZE) Receives $53.74 Consensus Target Price from Brokerages

Braze, Inc. (NASDAQ:BRZE) has been assigned an average recommendation of “Moderate Buy” from the twenty research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $53.74.

BRZE has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Macquarie raised their price objective on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. UBS Group cut their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. The Goldman Sachs Group reduced their target price on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th.

Braze Stock Performance

NASDAQ:BRZE opened at $44.11 on Wednesday. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -38.69 and a beta of 1.11. The stock has a fifty day moving average of $41.22 and a 200 day moving average of $38.48. Braze has a 52-week low of $29.18 and a 52-week high of $61.53.

Insiders Place Their Bets

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total transaction of $64,695.00. Following the transaction, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $658,551.97. The trade was a 8.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jonathan Hyman sold 6,930 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $238,738.50. Following the completion of the sale, the chief technology officer now directly owns 163,020 shares of the company’s stock, valued at approximately $5,616,039. This represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,583 shares of company stock valued at $7,325,468 in the last quarter. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of institutional investors have recently bought and sold shares of BRZE. Quarry LP purchased a new position in Braze during the second quarter valued at $50,000. KBC Group NV increased its stake in shares of Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares in the last quarter. Amalgamated Bank lifted its position in Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares during the period. Evoke Wealth LLC bought a new stake in Braze during the second quarter worth about $215,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Braze in the second quarter worth about $229,000. 90.47% of the stock is owned by institutional investors.

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.