Braze (NASDAQ:BRZE) Given New $39.00 Price Target at Macquarie

Braze (NASDAQ:BRZE - Free Report) had its price target increased by Macquarie from $30.00 to $39.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

BRZE has been the topic of a number of other research reports. JMP Securities reissued a "market outperform" rating and issued a $68.00 price objective on shares of Braze in a research note on Tuesday, September 24th. UBS Group dropped their price target on shares of Braze from $56.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Loop Capital restated a "buy" rating and set a $75.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price (down from $70.00) on shares of Braze in a report on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of Braze from $37.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $53.74.

Braze Trading Up 3.5 %

NASDAQ:BRZE traded up $1.43 during midday trading on Wednesday, hitting $42.38. 1,375,654 shares of the stock were exchanged, compared to its average volume of 1,080,317. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -37.04 and a beta of 1.15. Braze has a one year low of $29.18 and a one year high of $61.53. The business has a 50-day moving average price of $34.46 and a two-hundred day moving average price of $37.25.

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 shares were 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 $6,643,787.88. This represents a 3.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the sale, the director now directly owns 8,937 shares of the company's stock, valued at $273,919.05. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,979 shares of company stock worth $3,688,914. 24.03% of the stock is currently owned by company insiders.

Institutional Trading of Braze

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Braze during the third quarter valued at approximately $253,000. Geode Capital Management LLC increased its stake in shares of Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company's stock worth $48,428,000 after purchasing an additional 229,660 shares during the last quarter. Vestcor Inc bought a new position in shares of Braze during the 3rd quarter valued at $1,617,000. Bullseye Asset Management LLC lifted its stake in shares of Braze by 14.3% in the 3rd quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company's stock valued at $801,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Braze by 148.1% in the third quarter. Barclays PLC now owns 107,358 shares of the company's stock worth $3,472,000 after purchasing an additional 64,093 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.