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

Braze (NASDAQ:BRZE - Get Free Report) had its price objective increased by investment analysts at Stifel Nicolaus from $37.00 to $48.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 17.22% from the stock's current price.

A number of other research analysts have also commented on the company. The Goldman Sachs Group lowered their price objective on Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Barclays lowered their price target on Braze from $80.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, August 26th. Needham & Company LLC restated a "buy" rating and issued a $70.00 price objective on shares of Braze in a research note on Tuesday, September 24th. Oppenheimer lowered their target price on shares of Braze from $60.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 24th. Finally, UBS Group cut their target price on shares of Braze from $56.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Braze presently has a consensus rating of "Moderate Buy" and an average price target of $53.63.

Braze Stock Performance

Shares of NASDAQ:BRZE traded down $0.85 during midday trading on Tuesday, hitting $40.95. 3,310,237 shares of the stock were exchanged, compared to its average volume of 1,079,072. The company has a market capitalization of $4.21 billion, a PE ratio of -35.92 and a beta of 1.15. Braze has a 52-week low of $29.18 and a 52-week high of $61.53. The business's fifty day simple moving average is $34.29 and its two-hundred day simple moving average is $37.25.

Insider Activity

In other news, major shareholder Roger H. Lee sold 56,830 shares of the business's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Magnuson sold 17,933 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $617,791.85. Following the completion of the sale, the chief executive officer now owns 582,816 shares in the company, valued at $20,078,011.20. This trade represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,979 shares of company stock worth $3,688,914. Company insiders own 24.03% of the company's stock.

Institutional Trading of Braze

A number of large investors have recently bought and sold shares of the stock. Comerica Bank grew its position in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company's stock valued at $54,000 after acquiring an additional 276 shares during the period. Blair William & Co. IL grew its position in Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company's stock valued at $502,000 after acquiring an additional 283 shares during the period. Amalgamated Bank grew its holdings in shares of Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after purchasing an additional 358 shares during the last quarter. Creative Planning grew its holdings in shares of Braze by 1.7% during the second quarter. Creative Planning now owns 23,121 shares of the company's stock worth $898,000 after purchasing an additional 384 shares during the last quarter. Finally, KBC Group NV grew its holdings 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 last quarter. 90.47% of the stock is currently owned by 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.