Braze (NASDAQ:BRZE) Price Target Raised to $48.00

Braze (NASDAQ:BRZE - Free Report) had its price objective increased by Piper Sandler from $40.00 to $48.00 in a research report sent to investors on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research analysts also recently commented on BRZE. UBS Group cut their price target on shares of Braze from $56.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Stifel Nicolaus lifted their price objective on Braze from $37.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday. The Goldman Sachs Group decreased their target price on Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Oppenheimer dropped their price target on Braze from $60.00 to $51.00 and set an "outperform" rating for the company in a research report on Tuesday, September 24th. Finally, DA Davidson cut their price objective on Braze from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $53.63.

Braze Trading Down 2.0 %

Shares of Braze stock traded down $0.85 on Tuesday, reaching $40.95. The stock had a trading volume of 3,310,237 shares, compared to its average volume of 1,079,072. The business's 50 day moving average is $34.29 and its two-hundred day moving average is $37.25. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The company has a market cap of $4.21 billion, a P/E ratio of -35.92 and a beta of 1.15.

Insiders Place Their Bets

In other Braze news, insider Myles Kleeger sold 6,342 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $36.03, for a total value of $228,502.26. Following the completion of the sale, the insider now owns 184,396 shares in the company, valued at approximately $6,643,787.88. This trade represents a 3.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total value of $144,540.00. Following the transaction, the chief financial officer now directly owns 216,208 shares in the company, valued at $6,944,600.96. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,979 shares of company stock valued at $3,688,914 in the last ninety days. Company insiders own 24.03% of the company's stock.

Institutional Trading of Braze

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank increased its position in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company's stock valued at $54,000 after purchasing an additional 276 shares during the period. Quarry LP bought a new stake in shares of Braze during the 2nd quarter valued at about $50,000. Canton Hathaway LLC increased its position in shares of Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company's stock valued at $77,000 after buying an additional 1,187 shares during the period. KBC Group NV raised its stake in 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 buying an additional 615 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after buying an additional 358 shares during the period. Hedge funds and other 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.