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

Shares of Braze, Inc. (NASDAQ:BRZE) have earned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $53.74.

Several equities analysts recently commented on BRZE shares. Piper Sandler increased their price objective on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. DA Davidson lowered their target price on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Macquarie upped their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Braze in a research report on Monday, February 3rd. Finally, Citigroup lifted their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Braze Stock Down 3.9 %

NASDAQ:BRZE opened at $32.44 on Thursday. The firm has a market capitalization of $3.36 billion, a PE ratio of -28.46 and a beta of 1.17. Braze has a twelve month low of $29.18 and a twelve month high of $55.47. The stock’s 50-day simple moving average is $41.88 and its 200 day simple moving average is $38.67.

Insider Transactions at Braze

In related news, CEO William Magnuson sold 18,050 shares of Braze stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 8,365 shares of Braze stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the completion of the transaction, the insider now owns 168,882 shares of the company’s stock, valued at $6,775,545.84. The trade was a 4.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,581 shares of company stock worth $8,059,840 in the last ninety days. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after buying an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after buying an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of 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. bought a new stake in shares of Braze during the 4th quarter valued at about $47,000. Finally, KBC Group NV increased its position in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after purchasing an additional 615 shares during the last quarter. 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.