Braze (NASDAQ:BRZE) Given New $58.00 Price Target at Scotiabank

Braze (NASDAQ:BRZE) had its price objective decreased by Scotiabank from $65.00 to $58.00 in a research report released on Thursday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

BRZE has been the topic of several other research reports. UBS Group raised shares of Braze from a neutral rating to a buy rating and set a $62.00 target price on the stock in a report on Thursday, March 21st. Raymond James upped their price target on Braze from $52.00 to $75.00 and gave the company an outperform rating in a report on Thursday, December 7th. Needham & Company LLC restated a buy rating and set a $70.00 price target on shares of Braze in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on Braze from $60.00 to $58.00 and set an overweight rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group lowered their price objective on shares of Braze from $70.00 to $65.00 and set a buy rating on the stock in a research report on Thursday. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Braze has a consensus rating of Moderate Buy and an average price target of $64.29.

Braze Stock Down 12.4 %

Shares of BRZE stock opened at $44.30 on Thursday. The firm has a 50 day moving average of $54.88 and a two-hundred day moving average of $51.19. The stock has a market capitalization of $4.42 billion, a PE ratio of -31.87 and a beta of 1.21. Braze has a 52 week low of $25.76 and a 52 week high of $61.53.

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 1,000 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $53.73, for a total transaction of $53,730.00. Following the completion of the transaction, the chief accounting officer now directly owns 77,853 shares of the company’s stock, valued at approximately $4,183,041.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total value of $746,700.00. Following the completion of the transaction, the insider now directly owns 171,709 shares of the company’s stock, valued at approximately $8,547,674.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Pankaj Malik sold 1,000 shares of the business’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $53.73, for a total value of $53,730.00. Following the sale, the chief accounting officer now owns 77,853 shares in the company, valued at $4,183,041.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,471 shares of company stock valued at $4,196,153. 26.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BRZE. Fred Alger Management LLC acquired a new stake in Braze in the 3rd quarter valued at about $29,000. BluePath Capital Management LLC acquired a new position in Braze during the third quarter worth about $31,000. Royal Bank of Canada lifted its holdings in shares of Braze by 189.3% in the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock valued at $40,000 after purchasing an additional 759 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Braze in the fourth quarter valued at approximately $40,000. Finally, Canton Hathaway LLC purchased a new position in shares of Braze during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds 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 data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.