Braze (NASDAQ:BRZE) Receives Outperform Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Braze (NASDAQ:BRZE) in a research report released on Wednesday,RTT News reports.

A number of other brokerages have also recently issued reports on BRZE. Oppenheimer dropped their target price on shares of Braze from $44.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. Mizuho increased their target price on shares of Braze from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Cantor Fitzgerald increased their target price on shares of Braze from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. UBS Group dropped their target price on shares of Braze from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $43.00 target price on shares of Braze in a research report on Friday, September 5th. Nineteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.11.

Braze Stock Performance

NASDAQ:BRZE opened at $28.04 on Wednesday. The company has a 50-day moving average of $28.43 and a 200-day moving average of $30.48. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -26.96 and a beta of 1.10. Braze has a 52 week low of $23.91 and a 52 week high of $48.33.

Insider Transactions at Braze

In other Braze news, insider Astha Malik sold 3,270 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $32.51, for a total value of $106,307.70. Following the completion of the sale, the insider owned 233,660 shares in the company, valued at approximately $7,596,286.60. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 4,174 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $32.77, for a total transaction of $136,781.98. Following the completion of the sale, the chief accounting officer owned 62,756 shares of the company’s stock, valued at $2,056,514.12. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,798 shares of company stock worth $2,158,088. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Braze

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after acquiring an additional 517 shares during the period. Quarry LP boosted its position in shares of Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company’s stock worth $29,000 after purchasing an additional 595 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Braze in the 1st quarter worth $36,000. SBI Securities Co. Ltd. boosted its position in shares of Braze by 173.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock worth $39,000 after purchasing an additional 870 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Braze by 821.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after purchasing an additional 1,404 shares during the last quarter. 90.47% of the stock is owned by institutional investors.

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.