Mizuho Issues Positive Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its price objective raised by analysts at Mizuho from $45.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 40.74% from the stock’s current price.

A number of other research firms also recently issued reports on BRZE. DA Davidson reissued a “buy” rating and issued a $40.00 target price on shares of Braze in a research report on Friday, September 5th. Wells Fargo & Company restated an “overweight” rating and issued a $45.00 price objective on shares of Braze in a research note on Wednesday. Barclays reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Braze in a report on Wednesday. Citigroup reiterated a “buy” rating on shares of Braze in a research note on Wednesday. Finally, Citizens Jmp restated a “market outperform” rating and set a $68.00 price target on shares of Braze in a research note on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and an average price target of $46.80.

Braze Stock Up 15.9%

Braze stock opened at $35.53 on Wednesday. The firm has a 50 day moving average price of $27.99 and a 200-day moving average price of $28.63. Braze has a twelve month low of $23.91 and a twelve month high of $48.33. The company has a market capitalization of $3.95 billion, a P/E ratio of -34.16 and a beta of 1.10.

Insider Buying and Selling at Braze

In other Braze news, CEO William Magnuson sold 26,698 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total value of $711,234.72. Following the transaction, the chief executive officer directly owned 694,746 shares in the company, valued at $18,508,033.44. This represents a 3.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jonathan Hyman sold 9,789 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total value of $260,778.96. Following the transaction, the chief technology officer directly owned 195,317 shares of the company’s stock, valued at $5,203,244.88. The trade was a 4.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,557 shares of company stock valued at $1,856,089 over the last 90 days. Insiders own 18.20% of the company’s stock.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently made changes to their positions in BRZE. Quarry LP grew its position in Braze by 296.0% in the first quarter. Quarry LP now owns 796 shares of the company’s stock worth $29,000 after acquiring an additional 595 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Braze in the first quarter valued at $36,000. SBI Securities Co. Ltd. raised its position in Braze by 173.3% during the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock valued at $39,000 after purchasing an additional 870 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after purchasing an additional 1,404 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in shares of Braze by 58.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,685 shares of the company’s stock worth $48,000 after purchasing an additional 620 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.