Braze’s (BRZE) Overweight Rating Reiterated at Piper Sandler

Braze (NASDAQ:BRZE)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a research report issued on Thursday, Benzinga reports. They currently have a $66.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 30.49% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Barclays increased their price target on Braze from $65.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, December 7th. The Goldman Sachs Group increased their price target on Braze from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 7th. JMP Securities increased their price target on Braze from $56.00 to $68.00 and gave the stock a “market outperform” rating in a research note on Thursday, December 7th. Scotiabank raised their target price on Braze from $54.00 to $65.00 and gave the company a “sector perform” rating in a research note on Thursday, December 7th. Finally, UBS Group raised Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and an average target price of $64.82.

Braze Price Performance

Shares of NASDAQ BRZE opened at $50.58 on Thursday. Braze has a 1-year low of $25.76 and a 1-year high of $61.53. The firm has a market capitalization of $5.05 billion, a PE ratio of -36.39 and a beta of 1.21. The business’s fifty day moving average price is $55.05 and its two-hundred day moving average price is $51.24.

Insider Transactions at Braze

In other news, CEO William Magnuson sold 11,874 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $57.51, for a total transaction of $682,873.74. Following the completion of the sale, the chief executive officer now directly owns 636,514 shares of the company’s stock, valued at approximately $36,605,920.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William Magnuson sold 11,874 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $57.51, for a total value of $682,873.74. Following the transaction, the chief executive officer now directly owns 636,514 shares of the company’s stock, valued at approximately $36,605,920.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of the firm’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 value of $746,700.00. Following the completion of the transaction, 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. Insiders sold 75,471 shares of company stock valued at $4,196,153 in the last three months. Corporate insiders own 26.48% of the company’s stock.

Institutional Trading of Braze

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRZE. Fred Alger Management LLC acquired a new stake in Braze in the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC acquired a new stake in Braze in the 3rd quarter valued at approximately $31,000. Neo Ivy Capital Management acquired a new stake in Braze in the 4th quarter valued at approximately $40,000. Royal Bank of Canada grew its holdings in Braze by 189.3% in the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock valued at $40,000 after buying an additional 759 shares during the last quarter. Finally, Canton Hathaway LLC acquired a new stake in Braze in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds 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 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.