Braze (NASDAQ:BRZE) Upgraded by Stephens to Strong-Buy Rating

Stephens upgraded shares of Braze (NASDAQ:BRZE - Free Report) to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also weighed in on BRZE. Citigroup raised their price objective on Braze from $47.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their price target on shares of Braze from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Tuesday, November 26th. Macquarie increased their price objective on shares of Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Oppenheimer reaffirmed an "outperform" rating and set a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. Finally, Stifel Nicolaus increased their price target on Braze from $37.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $52.45.

Braze Trading Up 2.9 %

NASDAQ BRZE traded up $1.08 on Tuesday, hitting $38.11. 1,855,529 shares of the company's stock were exchanged, compared to its average volume of 1,123,843. The stock has a 50-day moving average of $40.13 and a 200-day moving average of $37.96. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -33.43 and a beta of 1.17. Braze has a 52 week low of $29.18 and a 52 week high of $52.26.

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Insider Activity

In other news, CEO William Magnuson sold 18,050 shares of Braze 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 $23,053,748.12. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the transaction, the chief accounting officer now directly owns 54,784 shares in the company, valued at approximately $2,507,463.68. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock valued at $3,841,921 in the last ninety days. 24.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Braze

Several institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after buying an additional 405 shares during the period. Aster Capital Management DIFC Ltd grew its stake in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after acquiring an additional 827 shares during the period. EverSource Wealth Advisors LLC grew its stake in Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after acquiring an additional 928 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Braze during the fourth quarter valued at approximately $47,000. Finally, KBC Group NV raised 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 purchasing an additional 615 shares during the period. Institutional investors and hedge funds 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.