William Blair Reiterates “Outperform” Rating for Braze (NASDAQ:BRZE)

Braze (NASDAQ:BRZE)‘s stock had its “outperform” rating restated by research analysts at William Blair in a research note issued on Thursday,RTT News reports.

A number of other equities research analysts have also issued reports on the stock. Loop Capital restated a “buy” rating and issued a $75.00 target price on shares of Braze in a research note on Tuesday, September 24th. The Goldman Sachs Group cut their price objective on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price (down previously from $70.00) on shares of Braze in a research report on Tuesday, December 10th. Piper Sandler boosted their price target on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, DA Davidson reduced their price objective on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Braze presently has an average rating of “Moderate Buy” and a consensus target price of $53.74.

Braze Price Performance

BRZE traded up $0.21 during trading on Thursday, hitting $43.58. The company had a trading volume of 174,785 shares, compared to its average volume of 1,088,355. Braze has a 1-year low of $29.18 and a 1-year high of $61.53. The company has a market cap of $4.48 billion, a PE ratio of -38.23 and a beta of 1.15. The business has a 50-day moving average of $35.97 and a 200-day moving average of $37.41.

Insider Buying and Selling

In related news, insider Myles Kleeger sold 2,100 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.00, for a total transaction of $94,500.00. Following the transaction, the insider now owns 184,396 shares in the company, valued at $8,297,820. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Pankaj Malik sold 3,432 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $118,232.40. Following the sale, the chief accounting officer now directly owns 67,095 shares in the company, valued at approximately $2,311,422.75. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,980 shares of company stock valued at $4,339,005 in the last three months. 24.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Braze during the third quarter worth about $253,000. Geode Capital Management LLC lifted its stake in Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after purchasing an additional 229,660 shares during the last quarter. Vestcor Inc bought a new stake in Braze during the third quarter worth approximately $1,617,000. Bullseye Asset Management LLC grew its position in Braze by 14.3% in the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock worth $801,000 after buying an additional 3,100 shares during the last quarter. Finally, Barclays PLC grew its position in Braze by 148.1% in the third quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after buying an additional 64,093 shares during the last quarter. 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.