Braze, Inc. (NASDAQ:BRZE) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts have assigned Braze, Inc. (NASDAQ:BRZE) an average rating of "Moderate Buy", with 20 out of 21 analysts recommending a buy, and a 12-month price target of $45.10.
• Insiders have sold a total of 75,624 shares of Braze stock in the last ninety days, indicating a 4.17% decrease in ownership for CTO Jonathan Hyman and a 5.22% decrease for insider Astha Malik.
• Institutional investors now own approximately 90.47% of Braze shares, with several hedge funds recently increasing their stakes, signaling strong institutional confidence in the company.

Braze, Inc. (NASDAQ:BRZE - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-one ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $45.10.

BRZE has been the subject of a number of recent analyst reports. UBS Group lowered their target price on shares of Braze from $48.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. lowered their target price on shares of Braze from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, June 6th. Oppenheimer lowered their target price on shares of Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Loop Capital lowered their target price on shares of Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Finally, JMP Securities reissued a "market outperform" rating and set a $68.00 target price on shares of Braze in a research note on Friday, September 5th.

Braze Trading Up 1.9%

Shares of BRZE traded up $0.61 during trading hours on Monday, reaching $32.65. 1,965,300 shares of the company traded hands, compared to its average volume of 2,647,132. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -31.39 and a beta of 1.10. Braze has a 12-month low of $23.91 and a 12-month high of $48.33. The stock's fifty day moving average price is $28.04 and its 200 day moving average price is $30.58.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 4,174 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $32.77, for a total value of $136,781.98. Following the completion of the sale, the chief accounting officer directly owned 62,756 shares of the company's stock, valued at $2,056,514.12. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 4,943 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $25.14, for a total transaction of $124,267.02. Following the completion of the sale, the general counsel directly owned 229,724 shares of the company's stock, valued at approximately $5,775,261.36. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,798 shares of company stock valued at $2,158,088 over the last quarter. 18.20% of the stock is owned by company insiders.

Institutional Trading of Braze

A number of hedge funds have recently added to or reduced their stakes in BRZE. US Bancorp DE lifted its position in shares of Braze by 1.4% during the first quarter. US Bancorp DE now owns 21,314 shares of the company's stock valued at $769,000 after buying an additional 302 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Braze by 15.3% during the first quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock valued at $122,000 after buying an additional 449 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted 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 valued at $551,000 after buying an additional 461 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after buying an additional 517 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Braze by 9.7% during the second quarter. CWM LLC now owns 6,009 shares of the company's stock valued at $169,000 after buying an additional 532 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.