Braze (NASDAQ:BRZE) Stock Rating Reaffirmed by Oppenheimer

Braze (NASDAQ:BRZE)‘s stock had its “outperform” rating restated by Oppenheimer in a research note issued on Thursday, Benzinga reports. They currently have a $75.00 target price on the stock. Oppenheimer’s price target would suggest a potential upside of 48.28% from the stock’s previous close.

BRZE has been the subject of several other reports. Scotiabank boosted their price objective on shares of Braze from $54.00 to $65.00 and gave the company a “sector perform” rating in a research report on Thursday, December 7th. UBS Group upgraded shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a report on Thursday, March 21st. JMP Securities boosted their price target on shares of Braze from $56.00 to $68.00 and gave the company a “market outperform” rating in a report on Thursday, December 7th. BTIG Research boosted their price target on shares of Braze from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Finally, DA Davidson restated a “buy” rating and issued a $65.00 price target on shares of Braze in a report on Monday. One equities 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.82.

Braze Price Performance

Braze stock opened at $50.58 on Thursday. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of -36.39 and a beta of 1.21. Braze has a 1 year low of $25.76 and a 1 year high of $61.53. The firm has a 50-day moving average of $55.05 and a two-hundred day moving average of $51.24.

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $49.78, for a total transaction of $746,700.00. Following the transaction, the insider now owns 171,709 shares in the company, valued at approximately $8,547,674.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.32, for a total value of $76,980.00. Following the sale, the director now directly owns 11,056 shares of the company’s stock, valued at approximately $567,393.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $49.78, for a total transaction of $746,700.00. Following the completion of the sale, the insider now directly owns 171,709 shares in the company, valued at $8,547,674.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,471 shares of company stock worth $4,196,153. 26.48% of the stock is owned by corporate insiders.

Institutional Trading of Braze

Several large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings 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. boosted its holdings 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 boosted its holdings 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 boosted its holdings 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 boosted its holdings 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 owned by hedge funds and other institutional investors.

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.