Stephens Begins Coverage on Braze (NASDAQ:BRZE)

Investment analysts at Stephens initiated coverage on shares of Braze (NASDAQ:BRZE - Get Free Report) in a research report issued on Wednesday, Marketbeat.com reports. The firm set an "overweight" rating and a $43.00 price target on the stock. Stephens' target price would suggest a potential upside of 16.12% from the company's current price.

Other research analysts also recently issued reports about the company. DA Davidson reduced their target price on Braze from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, December 10th. Stifel Nicolaus boosted 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. Citigroup lifted their price objective on Braze from $47.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Piper Sandler boosted their price target on Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Finally, Macquarie boosted their price target on Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $52.45.

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Braze Trading Up 2.7 %

Shares of NASDAQ BRZE traded up $0.98 during mid-day trading on Wednesday, reaching $37.03. 1,820,398 shares of the company's stock were exchanged, compared to its average volume of 1,120,906. The business has a fifty day simple moving average of $40.20 and a 200 day simple moving average of $38.00. Braze has a twelve month low of $29.18 and a twelve month high of $52.26. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -32.48 and a beta of 1.17.

Insider Transactions at Braze

In other Braze news, CAO Pankaj Malik sold 3,700 shares of the company's stock in a transaction that occurred 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 owns 54,784 shares in the company, valued at approximately $2,507,463.68. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Myles Kleeger sold 10,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.43, for a total value of $454,300.00. Following the transaction, the insider now owns 184,396 shares in the company, valued at $8,377,110.28. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,470 shares of company stock worth $3,841,921. Company insiders own 24.03% of the company's stock.

Institutional Trading of Braze

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in shares of Braze by 4.7% during the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company's stock valued at $2,434,000 after purchasing an additional 2,605 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Braze in the fourth quarter worth about $1,868,000. State of Wyoming bought a new stake in Braze in the fourth quarter worth about $197,000. ProShare Advisors LLC raised its stake in shares of Braze by 33.8% during the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company's stock valued at $1,028,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Braze during the fourth quarter valued at approximately $1,686,000. 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.