Citigroup Issues Positive Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price objective increased by Citigroup from $47.00 to $51.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 20.80% from the company’s previous close.

BRZE has been the topic of a number of other research reports. DA Davidson decreased their price target on shares of Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Loop Capital restated a “buy” rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Stifel Nicolaus increased their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays dropped their target price on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Oppenheimer reiterated an “outperform” rating and set a $51.00 price target on shares of Braze in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Braze has a consensus rating of “Moderate Buy” and an average price target of $53.74.

Braze Trading Up 3.1 %

Shares of Braze stock traded up $1.27 on Wednesday, reaching $42.22. The stock had a trading volume of 625,775 shares, compared to its average volume of 1,077,125. The business’s 50 day moving average is $34.46 and its two-hundred day moving average is $37.25. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The company has a market cap of $4.34 billion, a P/E ratio of -37.04 and a beta of 1.15.

Insiders Place Their Bets

In related news, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction on Monday, October 7th. The shares were 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 directly owns 8,937 shares in the company, valued at $273,919.05. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Myles Kleeger sold 6,342 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $36.03, for a total value of $228,502.26. Following the completion of the transaction, the insider now directly owns 184,396 shares of the company’s stock, valued at approximately $6,643,787.88. This trade represents a 3.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,979 shares of company stock valued at $3,688,914. 24.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Braze

Several hedge funds have recently modified their holdings of the company. Comerica Bank raised its holdings in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the period. Neo Ivy Capital Management acquired a new stake in Braze in the 2nd quarter valued at $2,575,000. Canton Hathaway LLC increased its holdings in Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 shares in the last quarter. AMI Asset Management Corp acquired a new position in Braze during the second quarter worth $1,033,000. Finally, Bank of New York Mellon Corp lifted its holdings in Braze by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock valued at $18,554,000 after purchasing an additional 73,764 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.