Stephens Initiates Coverage on Braze (NASDAQ:BRZE)

Stephens assumed coverage on shares of Braze (NASDAQ:BRZE) in a research report issued to clients and investors on Wednesday. The firm set an “overweight” rating and a $43.00 price target on the stock. Stephens’ target price points to a potential upside of 21.16% from the stock’s previous close.

BRZE has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Braze in a report on Monday, February 3rd. Macquarie raised their price target on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Oppenheimer restated an “outperform” rating and set a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Citigroup raised their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company dropped their target price on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. One analyst has rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.20.

Braze Trading Down 1.9 %

BRZE stock opened at $35.49 on Wednesday. The firm has a 50-day moving average of $40.63 and a two-hundred day moving average of $38.16. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -31.13 and a beta of 1.17. Braze has a 12 month low of $29.18 and a 12 month high of $55.47.

Insiders Place Their Bets

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $40.02, for a total value of $139,509.72. Following the completion of the transaction, the general counsel now owns 182,109 shares in the company, valued at $7,288,002.18. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Pankaj Malik sold 3,700 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.77, for a total transaction of $169,349.00. Following the completion of the transaction, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock worth $3,841,921 over the last 90 days. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several institutional investors have recently modified their holdings of the company. ShawSpring Partners LLC purchased a new stake in Braze in the fourth quarter valued at $62,837,000. Norges Bank purchased a new stake in Braze in the fourth quarter valued at $62,639,000. Vanguard Group Inc. lifted its position in Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after acquiring an additional 1,476,423 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Braze by 121.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock valued at $92,028,000 after acquiring an additional 1,203,149 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Braze in the fourth quarter valued at $50,000,000. 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.