Braze (NASDAQ:BRZE) Price Target Raised to $48.00 at Stifel Nicolaus

Braze (NASDAQ:BRZE) had its price target upped by stock analysts at Stifel Nicolaus from $37.00 to $48.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 13.26% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. DA Davidson reduced their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Oppenheimer cut their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. JMP Securities reiterated a “market outperform” rating and set a $68.00 price target on shares of Braze in a research report on Tuesday, September 24th. Finally, Piper Sandler lowered their price target on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and an average price target of $53.74.

Braze Stock Up 3.5 %

Shares of NASDAQ BRZE opened at $42.38 on Tuesday. The stock’s 50 day moving average price is $34.67 and its 200-day moving average price is $37.29. Braze has a twelve month low of $29.18 and a twelve month high of $61.53. The company has a market capitalization of $4.35 billion, a PE ratio of -37.18 and a beta of 1.15.

Insider Transactions at Braze

In other Braze news, Director Fernando Machado sold 1,377 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the transaction, the director now owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the transaction, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,979 shares of company stock worth $3,688,914. Insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in Braze in the 2nd quarter worth about $50,000. Comerica Bank lifted its stake in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares during the period. KBC Group NV lifted its position in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares during the period. Amalgamated Bank boosted its stake in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after buying an additional 358 shares during the last quarter. Finally, Canton Hathaway LLC boosted its position in Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after purchasing an additional 1,187 shares during the last quarter. Hedge funds and other institutional investors 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 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.