Braze (NASDAQ:BRZE) Given Buy Rating at DA Davidson

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research note issued on Wednesday,Benzinga reports. They presently have a $50.00 target price on the stock. DA Davidson’s price target points to a potential upside of 31.04% from the stock’s previous close.

A number of other equities research analysts also recently commented on BRZE. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. Raymond James decreased their target price on Braze from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, March 20th. Stifel Nicolaus lifted their price objective on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Braze in a research note on Tuesday, December 10th. Finally, Macquarie lifted 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. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $52.45.

Braze Stock Performance

BRZE traded down $0.99 during mid-day trading on Wednesday, reaching $38.16. The stock had a trading volume of 50,110 shares, compared to its average volume of 1,120,459. The firm’s fifty day simple moving average is $40.07 and its two-hundred day simple moving average is $37.99. The stock has a market capitalization of $3.95 billion, a P/E ratio of -33.41 and a beta of 1.17. Braze has a 52 week low of $29.18 and a 52 week high of $51.20.

Insider Activity

In other news, CAO Pankaj Malik sold 3,700 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the transaction, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This represents a 6.33 % 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 link. Also, insider Myles Kleeger sold 8,365 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.12, for a total transaction of $335,603.80. Following the completion of the sale, the insider now directly owns 168,882 shares of the company’s stock, valued at $6,775,545.84. This represents a 4.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock valued at $3,841,921 in the last quarter. Company insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several large investors have recently modified their holdings of BRZE. Tower Research Capital LLC TRC grew its stake in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after buying an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after acquiring an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Braze during the fourth quarter valued at approximately $47,000. Finally, Plato Investment Management Ltd acquired a new position in Braze during the fourth quarter valued at approximately $115,000. 90.47% of the stock is owned by institutional investors and hedge funds.

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.