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

William Blair reiterated their outperform rating on shares of Braze (NASDAQ:BRZE) in a report issued on Thursday,RTT News reports.

BRZE has been the topic of a number of other reports. Stifel Nicolaus increased their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays reduced their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Citigroup upped their price objective on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. UBS Group reduced their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Trading Up 0.7 %

NASDAQ:BRZE opened at $44.31 on Thursday. The firm has a fifty day simple moving average of $36.52 and a 200-day simple moving average of $37.51. Braze has a 12 month low of $29.18 and a 12 month high of $61.53. The company has a market capitalization of $4.55 billion, a P/E ratio of -38.87 and a beta of 1.15.

Insider Activity at Braze

In other news, CEO William Magnuson sold 17,933 shares of Braze stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $617,791.85. Following the sale, the chief executive officer now owns 582,816 shares in the company, valued at $20,078,011.20. This trade represents a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Myles Kleeger sold 37,900 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $45.11, for a total transaction of $1,709,669.00. Following the sale, the insider now directly owns 184,396 shares of the company’s stock, valued at $8,318,103.56. This represents a 17.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,090 shares of company stock valued at $7,906,833. 24.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Braze

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

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.