Braze (NASDAQ:BRZE) Downgraded by UBS Group to “Neutral”

Braze (NASDAQ:BRZE – Get Rating) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat reports. They presently have a $35.00 price target on the stock, down from their previous price target of $40.00. UBS Group’s price target points to a potential upside of 12.04% from the company’s previous close.

BRZE has been the subject of several other reports. Piper Sandler dropped their price target on Braze from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, December 14th. Raymond James lowered their price target on Braze from $50.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, December 14th. Cowen lowered their price target on Braze from $47.00 to $44.00 in a report on Wednesday, December 14th. Barclays lowered their price target on Braze from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, December 14th. Finally, Loop Capital lowered their price target on Braze from $52.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, December 14th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Braze Trading Down 5.8 %

Shares of BRZE opened at $31.24 on Friday. Braze has a one year low of $22.53 and a one year high of $50.97. The stock has a 50 day moving average price of $31.52 and a 200 day moving average price of $30.60.

Insider Transactions at Braze

In other news, CAO Pankaj Malik sold 2,247 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $32.52, for a total transaction of $73,072.44. Following the sale, the chief accounting officer now owns 74,893 shares of the company’s stock, valued at approximately $2,435,520.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Pankaj Malik sold 2,247 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $32.52, for a total transaction of $73,072.44. Following the sale, the chief accounting officer now owns 74,893 shares of the company’s stock, valued at approximately $2,435,520.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Isabelle Winkles sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $30.77, for a total value of $30,770.00. Following the sale, the chief financial officer now directly owns 28,963 shares in the company, valued at approximately $891,191.51. The disclosure for this sale can be found here. Corporate insiders own 32.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BRZE. Bank of New York Mellon Corp purchased a new position in Braze during the 1st quarter worth approximately $370,000. Bank of Montreal Can grew its stake in shares of Braze by 81.7% in the 1st quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock valued at $4,645,000 after purchasing an additional 46,591 shares during the last quarter. BlackRock Inc. grew its stake in shares of Braze by 2,301.3% in the 1st quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock valued at $5,111,000 after purchasing an additional 118,101 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Braze by 8.7% in the 1st quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock valued at $424,000 after purchasing an additional 820 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Braze by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock valued at $28,860,000 after purchasing an additional 124,741 shares during the last quarter. Hedge funds and other institutional investors own 44.13% of the company’s stock.

Braze Company Profile

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Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.