William Blair Reiterates “Outperform” Rating for Braze (NASDAQ:BRZE)

Braze (NASDAQ:BRZE)‘s stock had its “outperform” rating reiterated by equities researchers at William Blair in a research report issued on Thursday,RTT News reports.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company decreased their target price on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Macquarie boosted their target price on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group reduced their price target on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, DA Davidson lowered their price objective on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.74.

Braze Stock Performance

Shares of BRZE opened at $44.31 on Thursday. The company’s 50-day simple moving average is $36.25 and its 200-day simple moving average is $37.46. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The stock has a market capitalization of $4.55 billion, a PE ratio of -38.87 and a beta of 1.15.

Insider Transactions at Braze

In related news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $32.12, for a total transaction of $144,540.00. Following the completion of the sale, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at $6,944,600.96. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Fernando Machado sold 1,377 shares of the business’s 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 completion of the transaction, the director now directly owns 8,937 shares in the company, valued at $273,919.05. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,090 shares of company stock worth $7,906,833. Company insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Braze in the 2nd quarter valued at approximately $50,000. KBC Group NV grew its holdings in 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 acquiring an additional 615 shares during the period. Amalgamated Bank raised its position in Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares in the last quarter. Evoke Wealth LLC acquired a new stake in Braze in the second quarter valued at $215,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Braze during the 2nd quarter worth $229,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Company Profile

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.