Braze (NASDAQ:BRZE) Receives “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Braze (NASDAQ:BRZE) in a research report sent to investors on Monday,Benzinga reports. They currently have a $43.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler dropped their price target on shares of Braze from $50.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Mizuho raised their price objective on shares of Braze from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. TD Cowen lowered their target price on shares of Braze from $43.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company increased their price target on Braze from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Braze in a research report on Wednesday, January 14th. Twenty-two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.48.

Braze Trading Up 3.2%

Braze stock opened at $18.92 on Monday. The company has a market cap of $2.12 billion, a PE ratio of -17.20 and a beta of 1.08. Braze has a 1 year low of $15.26 and a 1 year high of $43.89. The company’s 50-day moving average is $20.17 and its two-hundred day moving average is $26.66.

Insider Transactions at Braze

In related news, insider Astha Malik sold 14,049 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $237,849.57. Following the sale, the insider owned 205,289 shares of the company’s stock, valued at approximately $3,475,542.77. This trade represents a 6.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Susan Wiseman sold 4,167 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $17.03, for a total value of $70,964.01. Following the completion of the transaction, the general counsel directly owned 209,864 shares of the company’s stock, valued at approximately $3,573,983.92. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 60,676 shares of company stock valued at $1,027,661. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Braze

Institutional investors have recently modified their holdings of the business. NBC Securities Inc. bought a new stake in shares of Braze during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Braze by 3,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock valued at $28,000 after purchasing an additional 803 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after buying an additional 1,404 shares during the period. Quarry LP bought a new position in shares of Braze during the third quarter worth about $46,000. Finally, Clearstead Advisors LLC raised its position in Braze by 58.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,685 shares of the company’s stock valued at $48,000 after buying an additional 620 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.