Raymond James Issues Pessimistic Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE - Get Free Report) had its target price lowered by investment analysts at Raymond James from $48.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Raymond James' price objective would indicate a potential upside of 18.08% from the stock's previous close.

Several other research analysts have also weighed in on the company. DA Davidson lowered their price objective on Braze from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, December 10th. William Blair reissued an "outperform" rating on shares of Braze in a research report on Thursday, December 19th. Stifel Nicolaus boosted their price objective on shares of Braze from $37.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Stephens assumed coverage on shares of Braze in a research note on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price for the company. Finally, Piper Sandler boosted their price target 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. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $52.45.

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Braze Stock Up 2.9 %

NASDAQ:BRZE traded up $1.08 on Thursday, hitting $38.11. The stock had a trading volume of 1,855,529 shares, compared to its average volume of 1,123,843. The company has a fifty day moving average price of $40.13 and a two-hundred day moving average price of $37.96. Braze has a 1-year low of $29.18 and a 1-year high of $52.26. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -33.43 and a beta of 1.17.

Insider Buying and Selling

In related news, insider Myles Kleeger sold 8,365 shares of the business's stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at approximately $6,775,545.84. The trade was a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Magnuson sold 18,050 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were 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 in the company, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,470 shares of company stock worth $3,841,921. Company insiders own 24.03% of the company's stock.

Hedge Funds Weigh In On Braze

Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Braze by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company's stock worth $16,486,000 after buying an additional 57,713 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in Braze by 195.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company's stock valued at $2,512,000 after acquiring an additional 51,411 shares during the last quarter. Victory Capital Management Inc. lifted its position in Braze by 5.0% in the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company's stock valued at $13,309,000 after acquiring an additional 19,567 shares during the last quarter. Intech Investment Management LLC acquired a new position in Braze in the third quarter valued at $673,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Braze during the fourth quarter worth about $498,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.