Brokerages Set Braze, Inc. (NASDAQ:BRZE) PT at $53.74

Braze, Inc. (NASDAQ:BRZE - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $53.74.

BRZE has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Needham & Company LLC restated a "buy" rating and issued a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of Braze from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Tuesday, November 26th. DA Davidson dropped their price target on Braze from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus raised their price objective on Braze from $37.00 to $48.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th.

Insider Activity

In related news, Director Phillip M. Fernandez sold 1,500 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $42.02, for a total transaction of $63,030.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at approximately $641,603.38. The trade was a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 9,225 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $317,801.25. Following the completion of the transaction, the insider now owns 190,738 shares in the company, valued at $6,570,924.10. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,583 shares of company stock valued at $7,797,668 over the last three months. Insiders own 24.03% of the company's stock.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently modified their holdings of the business. Landscape Capital Management L.L.C. bought a new position in shares of Braze during the 4th quarter valued at approximately $215,000. Geode Capital Management LLC boosted its position in shares of Braze by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,535,965 shares of the company's stock worth $64,340,000 after purchasing an additional 38,777 shares during the period. Wellington Management Group LLP bought a new position in shares of Braze in the fourth quarter worth approximately $50,000,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Braze in the fourth quarter worth $5,160,000. Finally, Pictet Asset Management Holding SA raised its position in shares of Braze by 27.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock valued at $374,000 after purchasing an additional 1,938 shares during the period. Institutional investors own 90.47% of the company's stock.

Braze Price Performance

BRZE stock traded down $1.37 during midday trading on Friday, hitting $41.02. The stock had a trading volume of 928,558 shares, compared to its average volume of 1,161,823. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -35.98 and a beta of 1.13. The business has a 50-day moving average of $43.52 and a two-hundred day moving average of $39.01. Braze has a 52-week low of $29.18 and a 52-week high of $59.98.

Braze Company Profile

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.