Braze, Inc. (NASDAQ:BRZE) Given Average Recommendation of “Moderate Buy” by Brokerages

Braze, Inc. (NASDAQ:BRZE) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $64.29.

A number of research firms have weighed in on BRZE. Piper Sandler reiterated an “overweight” rating and set a $66.00 target price on shares of Braze in a report on Friday, April 5th. Scotiabank lowered their price objective on Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a research report on Thursday, March 28th. Raymond James dropped their target price on shares of Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. DA Davidson reissued a “buy” rating and set a $65.00 price target on shares of Braze in a research report on Monday, March 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Braze in a research note on Thursday, March 28th.

Insider Buying and Selling

In other news, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total transaction of $854,400.00. Following the sale, the insider now owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Susan Wiseman sold 7,600 shares of Braze stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $43.06, for a total value of $327,256.00. Following the completion of the sale, the general counsel now owns 206,358 shares of the company’s stock, valued at $8,885,775.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total value of $854,400.00. Following the completion of the transaction, the insider now directly owns 244,291 shares in the company, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,071 shares of company stock worth $3,722,979. 26.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Braze

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in Braze during the first quarter valued at approximately $370,000. Bank of Montreal Can grew its position in shares of Braze by 81.7% during the 1st quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock valued at $4,645,000 after acquiring an additional 46,591 shares during the period. BlackRock Inc. increased 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 worth $5,111,000 after purchasing an additional 118,101 shares in the last quarter. Blair William & Co. IL raised its holdings in Braze by 8.7% in the 1st quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock worth $424,000 after purchasing an additional 820 shares during the period. Finally, Vanguard Group Inc. lifted its position in Braze by 21.8% during the first 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 in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Trading Down 3.2 %

Shares of BRZE opened at $41.86 on Monday. Braze has a 1-year low of $25.76 and a 1-year high of $61.53. The firm’s 50-day moving average price is $52.13 and its 200-day moving average price is $51.01. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -31.47 and a beta of 1.13.

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.