Braze’s (BRZE) Buy Rating Reiterated at DA Davidson

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reiterated by DA Davidson in a research report issued on Wednesday,Benzinga reports. They currently have a $50.00 price objective on the stock. DA Davidson’s price objective points to a potential upside of 31.04% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Macquarie boosted their price target on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Citigroup boosted their target price on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Stifel Nicolaus increased their price target on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler boosted their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $52.45.

Braze Price Performance

Shares of BRZE traded down $0.99 during trading hours on Wednesday, reaching $38.16. 50,110 shares of the company’s stock traded hands, compared to its average volume of 1,120,459. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -33.41 and a beta of 1.17. The business’s fifty day simple moving average is $40.07 and its two-hundred day simple moving average is $37.99. Braze has a twelve month low of $29.18 and a twelve month high of $51.20.

Insider Buying and Selling

In related news, insider Myles Kleeger sold 8,365 shares of Braze stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the sale, the insider now directly owns 168,882 shares of the company’s stock, valued at $6,775,545.84. This trade represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Susan Wiseman sold 3,486 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.02, for a total value of $139,509.72. Following the transaction, the general counsel now owns 182,109 shares in the company, valued at $7,288,002.18. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,470 shares of company stock valued at $3,841,921. 24.03% of the stock is owned by company insiders.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently modified their holdings of BRZE. Charles Schwab Investment Management Inc. boosted its stake in Braze by 12.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after buying an additional 57,713 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Braze during the 3rd quarter valued at about $673,000. Proficio Capital Partners LLC bought a new stake in Braze in the fourth quarter valued at about $498,000. Holocene Advisors LP raised its position in Braze by 52.7% in the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock worth $2,729,000 after purchasing an additional 29,123 shares in the last quarter. Finally, 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 worth $48,428,000 after purchasing an additional 229,660 shares during the period. 90.47% of the stock is currently owned by institutional investors.

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.