Braze (NASDAQ:BRZE) Given Buy Rating at Needham & Company LLC

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $50.00 price objective on the stock, down from their previous price objective of $70.00. Needham & Company LLC’s price target suggests a potential upside of 17.98% from the stock’s current price.

BRZE has been the subject of a number of other research reports. TD Cowen decreased their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price target on shares of Braze in a research note on Tuesday, September 24th. Piper Sandler cut their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group reduced their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus increased their target price on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Price Performance

NASDAQ BRZE opened at $42.38 on Tuesday. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The company’s fifty day moving average price is $34.67 and its two-hundred day moving average price is $37.29. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -37.18 and a beta of 1.15.

Insider Activity at Braze

In related news, CAO Pankaj Malik sold 3,432 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $118,232.40. Following the completion of the sale, the chief accounting officer now owns 67,095 shares of the company’s stock, valued at approximately $2,311,422.75. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Myles Kleeger sold 6,342 shares of Braze stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total transaction of $228,502.26. Following the completion of the sale, the insider now owns 184,396 shares of the company’s stock, valued at $6,643,787.88. This trade represents a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,979 shares of company stock valued at $3,688,914. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. Comerica Bank grew its holdings in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after acquiring an additional 283 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the period. Creative Planning grew its holdings in shares of Braze by 1.7% during the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after purchasing an additional 384 shares in the last quarter. Finally, KBC Group NV increased its holdings in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after buying an additional 615 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers 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 Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.