Braze (NASDAQ:BRZE) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Braze (NASDAQ:BRZEFree Report) in a research note released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $70.00 target price on the stock.

Several other equities analysts have also commented on the company. DA Davidson reiterated a buy rating and set a $65.00 price objective on shares of Braze in a research report on Monday. JMP Securities increased their price objective on Braze from $56.00 to $68.00 and gave the company a market outperform rating in a research report on Thursday, December 7th. Barclays increased their price objective on Braze from $65.00 to $80.00 and gave the company an overweight rating in a research report on Thursday, December 7th. JPMorgan Chase & Co. increased their price objective on Braze from $52.00 to $57.00 and gave the company an overweight rating in a research report on Wednesday, November 29th. Finally, The Goldman Sachs Group raised their price target on Braze from $55.00 to $63.00 and gave the stock a buy rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $64.29.

View Our Latest Analysis on BRZE

Braze Stock Down 12.4 %

NASDAQ:BRZE opened at $44.30 on Thursday. The business’s 50-day moving average price is $54.88 and its two-hundred day moving average price is $51.19. Braze has a twelve month low of $25.76 and a twelve month high of $61.53. The stock has a market cap of $4.42 billion, a P/E ratio of -31.87 and a beta of 1.21.

Insider Transactions at Braze

In other news, CAO Pankaj Malik sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $53.73, for a total value of $53,730.00. Following the completion of the transaction, the chief accounting officer now owns 77,853 shares in the company, valued at approximately $4,183,041.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Pankaj Malik sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $53.73, for a total value of $53,730.00. Following the completion of the transaction, the chief accounting officer now owns 77,853 shares in the company, valued at approximately $4,183,041.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $49.78, for a total value of $746,700.00. Following the completion of the transaction, the insider now owns 171,709 shares of the company’s stock, valued at approximately $8,547,674.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,471 shares of company stock worth $4,196,153. 26.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Braze by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after buying an additional 480,179 shares during the last quarter. Morgan Stanley raised its stake in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after buying an additional 899,894 shares during the last quarter. BlackRock Inc. raised its stake in Braze by 296.6% during the second quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock valued at $114,050,000 after buying an additional 1,947,831 shares during the last quarter. Alliancebernstein L.P. raised its stake in Braze by 12.5% during the second quarter. Alliancebernstein L.P. now owns 2,376,204 shares of the company’s stock valued at $104,054,000 after buying an additional 263,250 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Braze by 62.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,090,100 shares of the company’s stock valued at $111,047,000 after buying an additional 805,000 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

About Braze

(Get Free Report)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.

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Analyst Recommendations for Braze (NASDAQ:BRZE)

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