Braze (NASDAQ:BRZE) Rating Reiterated by Piper Sandler

Braze (NASDAQ:BRZEGet Free Report)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a research report issued on Thursday, Benzinga reports. They currently have a $66.00 price target on the stock. Piper Sandler’s price target would indicate a potential upside of 48.98% from the stock’s previous close.

Several other research firms have also recently weighed in on BRZE. The Goldman Sachs Group upped their price target on shares of Braze from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Canaccord Genuity Group decreased their price target on shares of Braze from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday. Scotiabank upped their price target on shares of Braze from $54.00 to $65.00 and gave the stock a “sector perform” rating in a report on Thursday, December 7th. Raymond James upped their price target on shares of Braze from $52.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, December 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Braze presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.29.

Read Our Latest Stock Report on Braze

Braze Price Performance

Shares of BRZE stock opened at $44.30 on Thursday. The company’s fifty day simple moving average is $54.69 and its two-hundred day simple moving average is $51.16. Braze has a 1 year low of $25.76 and a 1 year high of $61.53. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of -31.87 and a beta of 1.21.

Insider Buying and Selling at Braze

In other news, CEO William Magnuson sold 11,874 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $57.51, for a total transaction of $682,873.74. Following the completion of the transaction, the chief executive officer now directly owns 636,514 shares of the company’s stock, valued at $36,605,920.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William Magnuson sold 11,874 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $57.51, for a total value of $682,873.74. Following the completion of the transaction, the chief executive officer now directly owns 636,514 shares of the company’s stock, valued at $36,605,920.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Myles Kleeger sold 15,000 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total transaction 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 $8,547,674.02. The disclosure for this sale can be found here. Insiders sold a total of 75,471 shares of company stock worth $4,196,153 over the last three months. Company insiders own 26.48% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of institutional investors have recently bought and sold shares of the stock. Creative Planning raised its stake in Braze by 1.2% in the fourth quarter. Creative Planning now owns 21,827 shares of the company’s stock worth $1,160,000 after buying an additional 249 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Braze by 1.5% during the fourth quarter. Voya Investment Management LLC now owns 20,814 shares of the company’s stock valued at $1,106,000 after purchasing an additional 299 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Braze by 6.6% during the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock valued at $256,000 after purchasing an additional 335 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Braze by 4.3% during the fourth quarter. Legal & General Group Plc now owns 8,303 shares of the company’s stock valued at $227,000 after purchasing an additional 340 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Braze by 4.6% during the third quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock valued at $552,000 after purchasing an additional 524 shares in the last quarter. 90.47% of the stock is owned by institutional investors.

Braze Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Braze (NASDAQ:BRZE)

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