Brokerages Set Braze, Inc. (NASDAQ:BRZE) Target Price at $64.29

Shares of Braze, Inc. (NASDAQ:BRZE) have been given a consensus rating of “Moderate Buy” by the seventeen research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $64.29.

A number of research firms have recently commented on BRZE. DA Davidson reissued a “buy” rating and issued a $65.00 target price on shares of Braze in a research note on Monday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a report on Thursday, March 28th. Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price target on shares of Braze in a report on Thursday, March 28th. TD Cowen lowered their price target on Braze from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price target on shares of Braze in a report on Friday, April 5th.

Insider Transactions at Braze

In other news, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the transaction, the insider now owns 244,291 shares of the company’s stock, valued at $13,914,815.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Myles Kleeger sold 15,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now owns 244,291 shares in the company, valued at $13,914,815.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $59.91, for a total value of $89,865.00. Following the sale, the director now owns 11,056 shares of the company’s stock, valued at approximately $662,364.96. The disclosure for this sale can be found here. Insiders have sold 77,815 shares of company stock valued at $4,164,679 over the last quarter. 26.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Braze

Institutional investors have recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC boosted its holdings in shares of Braze by 10.2% in the 1st quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock worth $561,000 after purchasing an additional 1,205 shares during the period. Renaissance Capital LLC raised its position in Braze by 5.1% during the 1st quarter. Renaissance Capital LLC now owns 34,885 shares of the company’s stock valued at $1,545,000 after purchasing an additional 1,696 shares in the last quarter. Vanguard Group Inc. raised its position in Braze by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after purchasing an additional 480,179 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Braze by 21.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock valued at $19,973,000 after purchasing an additional 65,973 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Braze in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Trading Down 1.6 %

NASDAQ BRZE opened at $39.53 on Monday. Braze has a 12 month low of $25.76 and a 12 month high of $61.53. The stock has a market cap of $3.99 billion, a P/E ratio of -29.72 and a beta of 1.13. The stock’s fifty day moving average price is $51.19 and its 200-day moving average price is $50.84.

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.