Braze (NASDAQ:BRZE) Receives “Outperform” Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Braze (NASDAQ:BRZE) in a research note released on Thursday morning,RTT News reports.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler lifted their price target on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group cut their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Loop Capital reiterated a “buy” rating and issued a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Citigroup upped 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. Finally, Wells Fargo & Company dropped their price target on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.74.

Braze Stock Up 1.5 %

Shares of BRZE traded up $0.67 during trading hours on Thursday, reaching $44.67. 177,599 shares of the company traded hands, compared to its average volume of 1,090,998. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -39.18 and a beta of 1.15. The company’s fifty day moving average price is $36.25 and its two-hundred day moving average price is $37.46.

Insider Activity at Braze

In other Braze news, CAO Pankaj Malik sold 4,656 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $43.65, for a total value of $203,234.40. Following the completion of the sale, the chief accounting officer now owns 58,484 shares of the company’s stock, valued at approximately $2,552,826.60. This trade represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total value of $144,540.00. Following the completion of the sale, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at approximately $6,944,600.96. This trade represents a 2.04 % 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 over the last three months. 24.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in Braze by 21.5% during the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after purchasing an additional 279,050 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after acquiring an additional 229,660 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Braze by 69.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,494,100 shares of the company’s stock worth $48,319,000 after buying an additional 612,400 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Braze by 1.0% in the second quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after purchasing an additional 7,570 shares in the last quarter. Finally, Stephens Investment Management Group LLC bought a new position in shares of Braze in the third quarter worth $20,794,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

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.