Braze, Inc. (NASDAQ:BRZE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Braze, Inc. (NASDAQ:BRZE) have earned a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $53.74.

BRZE has been the subject of several recent research reports. Piper Sandler increased their price target on Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Loop Capital reiterated a “buy” rating and set a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Stifel Nicolaus upped their price objective on shares of Braze from $37.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group reduced their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, TD Cowen dropped their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th.

Insider Transactions at Braze

In other Braze news, insider Myles Kleeger sold 9,225 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $317,801.25. Following the completion of the transaction, the insider now owns 190,738 shares in the company, valued at $6,570,924.10. The trade was a 4.61 % 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, CTO Jonathan Hyman sold 6,930 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $238,738.50. Following the completion of the sale, the chief technology officer now owns 163,020 shares in the company, valued at approximately $5,616,039. The trade was a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,583 shares of company stock valued at $7,325,468. 24.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of Braze by 146.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock valued at $58,489,000 after buying an additional 1,075,998 shares during the period. State Street Corp raised its holdings in Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after acquiring an additional 279,050 shares in the last quarter. Geode Capital Management LLC lifted its stake in Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings 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 acquiring an additional 612,400 shares in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new stake in shares of Braze in the 3rd quarter valued at approximately $20,794,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Trading Up 2.2 %

BRZE stock opened at $45.09 on Wednesday. The firm has a 50-day moving average of $41.57 and a two-hundred day moving average of $38.56. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -39.55 and a beta of 1.11.

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.