Braze (NASDAQ:BRZE) Raised to “Strong-Buy” at Stephens

Braze (NASDAQ:BRZE) was upgraded by stock analysts at Stephens to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Monday, February 3rd. Citigroup increased their price target on shares of Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Macquarie boosted their price objective on shares of Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Braze has a consensus rating of “Buy” and an average target price of $53.20.

Braze Stock Performance

Shares of Braze stock opened at $36.32 on Tuesday. Braze has a 52-week low of $29.18 and a 52-week high of $55.47. The firm has a 50-day moving average of $40.47 and a 200-day moving average of $38.15. The stock has a market cap of $3.76 billion, a PE ratio of -31.86 and a beta of 1.17.

Insider Buying and Selling at Braze

In related news, General Counsel Susan Wiseman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. Following the transaction, the general counsel now owns 189,520 shares in the company, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Myles Kleeger sold 7,149 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $291,822.18. Following the transaction, the insider now owns 177,247 shares of the company’s stock, valued at $7,235,222.54. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock worth $3,841,921 over the last three months. 24.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Several hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after buying an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after buying an additional 827 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after purchasing an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Braze in the fourth quarter valued at about $47,000. Finally, KBC Group NV raised its holdings in shares of Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after acquiring an additional 615 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other 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.