Braze (NASDAQ:BRZE) Price Target Raised to $45.00 at Stifel Nicolaus

Braze (NASDAQ:BRZE) had its price target increased by stock analysts at Stifel Nicolaus from $40.00 to $45.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 46.82% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research note on Friday, September 5th. Wolfe Research upgraded Braze to an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group set a $52.00 price objective on Braze and gave the company a “buy” rating in a research report on Saturday, September 6th. Piper Sandler reissued an “overweight” rating and set a $50.00 target price on shares of Braze in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Braze in a research report on Wednesday, October 8th. Twenty analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.16.

Braze Stock Up 2.1%

Shares of Braze stock opened at $30.65 on Wednesday. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -29.47 and a beta of 1.10. The stock’s 50-day simple moving average is $27.99 and its 200-day simple moving average is $28.63. Braze has a 52 week low of $23.91 and a 52 week high of $48.33.

Insider Buying and Selling at Braze

In other Braze news, CEO William Magnuson sold 26,698 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $26.64, for a total transaction of $711,234.72. Following the completion of the transaction, the chief executive officer directly owned 694,746 shares of the company’s stock, valued at approximately $18,508,033.44. This trade represents a 3.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Susan Wiseman sold 4,456 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $27.57, for a total transaction of $122,851.92. Following the transaction, the general counsel owned 219,794 shares of the company’s stock, valued at $6,059,720.58. This represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 68,557 shares of company stock valued at $1,856,089. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of Braze by 1.7% in the third quarter. Arizona State Retirement System now owns 21,749 shares of the company’s stock valued at $619,000 after purchasing an additional 363 shares during the period. Dynamic Technology Lab Private Ltd increased its position in shares of Braze by 2.4% during the second quarter. Dynamic Technology Lab Private Ltd now owns 19,621 shares of the company’s stock worth $551,000 after purchasing an additional 461 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Braze by 34.3% during the third quarter. SBI Securities Co. Ltd. now owns 1,843 shares of the company’s stock worth $52,000 after purchasing an additional 471 shares in the last quarter. CWM LLC raised its stake in Braze by 9.7% in the 2nd quarter. CWM LLC now owns 6,009 shares of the company’s stock valued at $169,000 after purchasing an additional 532 shares during the last quarter. Finally, Quarry LP lifted its holdings in Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company’s stock valued at $29,000 after purchasing an additional 595 shares in the last quarter. 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.