William Blair restated their outperform rating on shares of Braze (NASDAQ:BRZE – Free Report) in a report issued on Wednesday,RTT News reports.
Several other brokerages also recently commented on BRZE. Stephens set a $41.00 price objective on Braze and gave the stock an “overweight” rating in a research note on Friday, June 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Braze in a research note on Friday, September 5th. Loop Capital dropped their price objective on Braze from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, June 6th. UBS Group dropped their price objective on Braze from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. dropped their price objective on Braze from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, June 6th. Nineteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and an average price target of $45.11.
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Braze Stock Down 1.4%
NASDAQ:BRZE opened at $28.04 on Wednesday. Braze has a 12-month low of $23.91 and a 12-month high of $48.33. The firm has a market capitalization of $3.12 billion, a P/E ratio of -26.96 and a beta of 1.10. The stock’s fifty day simple moving average is $28.43 and its 200-day simple moving average is $30.48.
Insider Transactions at Braze
In other Braze news, General Counsel Susan Wiseman sold 4,943 shares of Braze stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $25.14, for a total value of $124,267.02. Following the sale, the general counsel owned 229,724 shares of the company’s stock, valued at $5,775,261.36. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Pankaj Malik sold 4,174 shares of Braze stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $32.77, for a total value of $136,781.98. Following the completion of the sale, the chief accounting officer directly owned 62,756 shares in the company, valued at $2,056,514.12. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,798 shares of company stock worth $2,158,088. 18.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Braze
Several hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its holdings in shares of Braze by 1.4% in the 1st quarter. US Bancorp DE now owns 21,314 shares of the company’s stock valued at $769,000 after acquiring an additional 302 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Braze by 15.3% in the 1st quarter. IFP Advisors Inc now owns 3,386 shares of the company’s stock valued at $122,000 after acquiring an additional 449 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Braze by 2.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 19,621 shares of the company’s stock valued at $551,000 after acquiring an additional 461 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after acquiring an additional 517 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Braze by 9.7% in the 2nd quarter. CWM LLC now owns 6,009 shares of the company’s stock valued at $169,000 after acquiring an additional 532 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.
Braze Company Profile
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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.
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