Braze, Inc. (NASDAQ:BRZE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Braze, Inc. (NASDAQ:BRZE) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $43.65.

A number of analysts recently commented on the company. DA Davidson lifted their price objective on Braze from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Stifel Nicolaus set a $40.00 target price on shares of Braze in a research report on Monday, February 9th. Mizuho raised their target price 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. Citizens Jmp reiterated a “market outperform” rating and set a $68.00 price target on shares of Braze in a research report on Wednesday, December 10th. Finally, BTIG Research started coverage on shares of Braze in a research note on Tuesday, December 16th. They set a “buy” rating and a $45.00 price target for the company.

Braze Stock Performance

NASDAQ BRZE opened at $18.77 on Monday. The stock has a market capitalization of $2.11 billion, a P/E ratio of -17.06 and a beta of 1.08. Braze has a 52 week low of $15.26 and a 52 week high of $43.89. The stock has a fifty day moving average of $21.62 and a 200-day moving average of $27.02.

Insider Activity at Braze

In other news, CTO Jonathan Hyman sold 7,391 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 value of $125,129.63. Following the transaction, the chief technology officer directly owned 1,692,933 shares in the company, valued at $28,661,355.69. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Magnuson sold 26,413 shares of Braze stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total value of $447,172.09. Following the sale, the chief executive officer directly owned 4,491,098 shares of the company’s stock, valued at approximately $76,034,289.14. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 66,216 shares of company stock worth $1,225,772. 18.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of Braze by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock valued at $69,831,000 after acquiring an additional 139,133 shares during the period. Citizens Financial Group Inc. RI acquired a new position in Braze during the second quarter valued at approximately $736,000. Jefferies Financial Group Inc. grew its holdings in Braze by 412.2% during the third quarter. Jefferies Financial Group Inc. now owns 99,761 shares of the company’s stock valued at $2,837,000 after purchasing an additional 80,285 shares during the period. Geode Capital Management LLC increased its stake in Braze by 10.9% in the second quarter. Geode Capital Management LLC now owns 1,797,546 shares of the company’s stock valued at $50,517,000 after purchasing an additional 177,391 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Braze in the second quarter worth $3,273,000. Institutional investors own 90.47% of the company’s stock.

About Braze

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.