Braze (NASDAQ:BRZE) Given New $25.00 Price Target at BTIG Research

Braze (NASDAQ:BRZE) had its price target reduced by equities researchers at BTIG Research from $45.00 to $25.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 30.14% from the stock’s previous close.

BRZE has been the subject of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 price objective on shares of Braze in a research report on Wednesday, December 10th. DA Davidson increased their target price on Braze from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Braze in a report on Wednesday, December 10th. JPMorgan Chase & Co. reduced their price target on shares of Braze from $45.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Braze in a research report on Monday, December 29th. Twenty-one research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.65.

Braze Trading Up 1.7%

NASDAQ:BRZE opened at $19.21 on Friday. The stock has a market capitalization of $2.16 billion, a P/E ratio of -17.46 and a beta of 1.08. Braze has a 1 year low of $15.26 and a 1 year high of $43.89. The firm has a 50 day moving average of $20.64 and a 200-day moving average of $26.79.

Insider Buying and Selling at Braze

In other news, insider Astha Malik sold 14,049 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $237,849.57. Following the transaction, the insider owned 205,289 shares of the company’s stock, valued at $3,475,542.77. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Magnuson sold 26,413 shares of Braze stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total value of $447,172.09. Following the completion of the sale, the chief executive officer owned 4,491,098 shares of the company’s stock, valued at approximately $76,034,289.14. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,676 shares of company stock valued at $1,027,661 over the last ninety days. Company insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently bought and sold shares of BRZE. JPMorgan Chase & Co. lifted its stake in shares of Braze by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock valued at $69,831,000 after purchasing an additional 139,133 shares during the period. Jefferies Financial Group Inc. increased its holdings in Braze by 412.2% in the third quarter. Jefferies Financial Group Inc. now owns 99,761 shares of the company’s stock valued at $2,837,000 after purchasing an additional 80,285 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Braze in the second quarter valued at about $3,273,000. Geode Capital Management LLC lifted its stake in Braze by 10.9% in the second quarter. Geode Capital Management LLC now owns 1,797,546 shares of the company’s stock valued at $50,517,000 after buying an additional 177,391 shares during the period. Finally, Rede Wealth LLC bought a new position in Braze during the third quarter worth about $864,000. 90.47% of the stock is owned by institutional investors.

About Braze

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.