Braze (NASDAQ:BRZE) Stock Price Expected to Rise, Macquarie Analyst Says

Braze (NASDAQ:BRZE) had its target price boosted by equities researchers at Macquarie from $30.00 to $39.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Macquarie’s price objective would suggest a potential downside of 7.16% from the company’s current price.

Other research analysts also recently issued research reports about the stock. TD Cowen dropped their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Loop Capital reissued a “buy” rating and set a $75.00 target price on shares of Braze in a research report on Tuesday, September 24th. Wells Fargo & Company cut their price target on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Oppenheimer reissued an “outperform” rating and set a $51.00 price objective on shares of Braze in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 target price (down from $70.00) on shares of Braze in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and a consensus target price of $53.74.

Braze Trading Down 0.9 %

BRZE opened at $42.01 on Wednesday. The business has a 50 day moving average of $34.90 and a 200-day moving average of $37.32. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -36.85 and a beta of 1.15. Braze has a 1-year low of $29.18 and a 1-year high of $61.53.

Insider Buying and Selling

In other Braze news, CEO William Magnuson sold 17,933 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $617,791.85. Following the transaction, the chief executive officer now owns 582,816 shares of the company’s stock, valued at approximately $20,078,011.20. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 6,342 shares of the firm’s stock in a transaction on 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 sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,979 shares of company stock worth $3,688,914 in the last three months. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of institutional investors have recently modified their holdings of BRZE. Charles Schwab Investment Management Inc. increased its holdings in shares of Braze by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock valued at $16,486,000 after purchasing an additional 57,713 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Braze in the 2nd quarter valued at $10,166,000. Victory Capital Management Inc. raised its position in shares of Braze by 5.0% during the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after acquiring an additional 19,567 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Braze during the second quarter valued at $971,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in Braze by 195.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 77,690 shares of the company’s stock valued at $2,512,000 after acquiring an additional 51,411 shares during the last quarter. 90.47% of the stock is owned by 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.