Braze (BRZE) – Analysts’ Weekly Ratings Updates

Braze (NASDAQ: BRZE) recently received a number of ratings updates from brokerages and research firms:

• 4/5/2024 – Braze had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $66.00 price target on the stock.
• 3/28/2024 – Braze had its price target lowered by analysts at Scotiabank from $65.00 to $58.00. They now have a “sector perform” rating on the stock.
• 3/28/2024 – Braze had its price target lowered by analysts at JPMorgan Chase & Co. from $60.00 to $58.00. They now have an “overweight” rating on the stock.
• 3/28/2024 – Braze had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $66.00 price target on the stock.
• 3/28/2024 – Braze had its price target lowered by analysts at Raymond James from $75.00 to $65.00. They now have an “outperform” rating on the stock.
• 3/28/2024 – Braze had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $75.00 price target on the stock.
• 3/28/2024 – Braze had its “outperform” rating reaffirmed by analysts at William Blair.
• 3/28/2024 – Braze had its price target lowered by analysts at TD Cowen from $68.00 to $65.00. They now have a “buy” rating on the stock.
• 3/28/2024 – Braze had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $70.00 price target on the stock.
• 3/28/2024 – Braze had its price target lowered by analysts at Canaccord Genuity Group Inc. from $70.00 to $65.00. They now have a “buy” rating on the stock.
• 3/25/2024 – Braze had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $65.00 price target on the stock.
• 3/21/2024 – Braze was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $62.00 price target on the stock.

Braze Price Performance

Shares of BRZE opened at $39.09 on Thursday. The firm has a market cap of $3.94 billion, a PE ratio of -29.39 and a beta of 1.13. The stock’s fifty day moving average price is $51.19 and its two-hundred day moving average price is $50.84. Braze, Inc. has a 1 year low of $25.76 and a 1 year high of $61.53.

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the sale, the insider now directly owns 244,291 shares in the company, valued at $13,914,815.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the completion of the transaction, the insider now directly owns 244,291 shares in the company, valued at $13,914,815.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fernando Machado sold 2,361 shares of Braze stock in a transaction on Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the transaction, the director now owns 6,101 shares of the company’s stock, valued at $259,048.46. The disclosure for this sale can be found here. Insiders have sold a total of 77,815 shares of company stock worth $4,164,679 over the last ninety days. 26.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Braze

Hedge funds have recently made changes to their positions in the stock. Harbour Capital Advisors LLC grew its position in Braze by 10.2% during the first quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock worth $561,000 after buying an additional 1,205 shares in the last quarter. Renaissance Capital LLC grew its position in Braze by 5.1% during the first quarter. Renaissance Capital LLC now owns 34,885 shares of the company’s stock worth $1,545,000 after buying an additional 1,696 shares in the last quarter. Vanguard Group Inc. grew its position in Braze by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after buying an additional 480,179 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Braze by 21.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock worth $19,973,000 after buying an additional 65,973 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Braze during the fourth quarter worth about $40,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.