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

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

Several research firms have issued reports on BRZE. DA Davidson decreased their price objective on shares of Braze from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, December 10th. Oppenheimer reissued an "outperform" rating and set a $51.00 target price on shares of Braze in a research report on Tuesday, December 10th. Citigroup boosted their target price on shares of Braze from $47.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Stifel Nicolaus boosted their target price on shares of Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Braze in a research report on Monday, February 3rd.

Braze Trading Down 2.5 %

BRZE traded down $0.86 during trading on Thursday, hitting $33.74. 1,248,894 shares of the company's stock were exchanged, compared to its average volume of 1,185,436. Braze has a 1 year low of $29.18 and a 1 year high of $55.47. The stock has a 50 day moving average price of $41.88 and a 200 day moving average price of $38.71. The firm has a market cap of $3.49 billion, a P/E ratio of -29.60 and a beta of 1.17.

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Insiders Place Their Bets

In other Braze news, CAO Pankaj Malik sold 3,955 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $41.41, for a total transaction of $163,776.55. Following the sale, the chief accounting officer now directly owns 63,140 shares of the company's stock, valued at approximately $2,614,627.40. This represents a 5.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 41,210 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $45.09, for a total transaction of $1,858,158.90. Following the sale, the general counsel now directly owns 199,520 shares in the company, valued at $8,996,356.80. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,581 shares of company stock valued at $8,059,840. Company insiders own 24.03% of the company's stock.

Hedge Funds Weigh In On Braze

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after acquiring an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of 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 acquiring an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Braze during the fourth quarter worth about $47,000. Finally, KBC Group NV grew its position in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company's stock worth $68,000 after acquiring an additional 615 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

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.