Braze (NASDAQ:BRZE) Shares Gap Down Following Analyst Downgrade

Braze, Inc. (NASDAQ:BRZEGet Free Report)’s stock price gapped down prior to trading on Thursday after Raymond James lowered their price target on the stock from $75.00 to $65.00. The stock had previously closed at $50.58, but opened at $45.31. Raymond James currently has an outperform rating on the stock. Braze shares last traded at $46.57, with a volume of 966,497 shares traded.

Other analysts have also recently issued research reports about the company. TD Cowen cut their price objective on Braze from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Braze in a research note on Thursday. BTIG Research upped their price objective on Braze from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Scotiabank lowered their target price on Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Canaccord Genuity Group lowered their target price on Braze from $70.00 to $65.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Braze has a consensus rating of “Moderate Buy” and a consensus target price of $64.29.

Check Out Our Latest Stock Report on Braze

Insider Buying and Selling at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $59.91, for a total transaction of $89,865.00. Following the transaction, the director now directly owns 11,056 shares in the company, valued at $662,364.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Pankaj Malik sold 1,000 shares of Braze stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $53.73, for a total value of $53,730.00. Following the transaction, the chief accounting officer now directly owns 77,853 shares in the company, valued at $4,183,041.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the transaction, the director now owns 11,056 shares in the company, valued at $662,364.96. The disclosure for this sale can be found here. Insiders have sold a total of 75,471 shares of company stock worth $4,196,153 over the last three months. Corporate insiders own 26.48% of the company’s stock.

Hedge Funds Weigh In On Braze

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in Braze by 296.6% during the second quarter. BlackRock Inc. now owns 2,604,483 shares of the company’s stock worth $114,050,000 after buying an additional 1,947,831 shares in the last quarter. 1832 Asset Management L.P. grew its position in Braze by 537.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after buying an additional 1,287,500 shares in the last quarter. Morgan Stanley grew its position in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after buying an additional 899,894 shares in the last quarter. Deutsche Bank AG grew its position in Braze by 12,400.1% during the first quarter. Deutsche Bank AG now owns 852,010 shares of the company’s stock worth $29,454,000 after buying an additional 845,194 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Braze by 180.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock worth $60,053,000 after buying an additional 826,100 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Stock Down 12.4 %

The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -31.87 and a beta of 1.21. The business has a 50-day moving average of $54.69 and a two-hundred day moving average of $51.16.

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.

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