Braze (NASDAQ:BRZE) Earns "Outperform" Rating from William Blair

Key Points

• William Blair has restated its "outperform" rating for Braze (NASDAQ:BRZE), indicating strong confidence in the company's future performance.
• Multiple equities research analysts have recently increased their target prices for Braze, with the average target now set at $45.11, reflecting a consensus rating of "Moderate Buy."
• Insider trading activity includes recent sales by CTO Jonathan Hyman and CAO Pankaj Malik, with significant decreases in their positions, highlighting potential concerns or adjustments within the company.

Braze (NASDAQ:BRZE - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at William Blair in a note issued to investors on Wednesday,RTT News reports.

Other equities research analysts have also recently issued research reports about the stock. Citigroup increased their target price on shares of Braze from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, September 5th. DA Davidson reissued a "buy" rating and issued a $40.00 price target on shares of Braze in a research report on Friday, September 5th. The Goldman Sachs Group set a $52.00 price target on shares of Braze and gave the stock a "buy" rating in a research report on Saturday, September 6th. Piper Sandler reissued an "overweight" rating and issued a $50.00 price target on shares of Braze in a research report on Wednesday. Finally, Stephens set a $41.00 price objective on shares of Braze and gave the stock an "overweight" rating in a report on Friday, June 6th. Nineteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $45.11.

Braze Stock Down 1.8%

BRZE stock traded down $0.51 during mid-day trading on Wednesday, reaching $27.94. 1,351,257 shares of the stock traded hands, compared to its average volume of 1,536,407. Braze has a 52 week low of $23.91 and a 52 week high of $48.33. The business has a 50-day moving average of $28.44 and a two-hundred day moving average of $30.49. The firm has a market capitalization of $3.11 billion, a PE ratio of -26.91 and a beta of 1.10.

Insider Activity at Braze

In other news, CTO Jonathan Hyman sold 8,918 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total transaction of $231,332.92. Following the transaction, the chief technology officer directly owned 205,106 shares in the company, valued at $5,320,449.64. The trade was a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Pankaj Malik sold 4,174 shares of Braze stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $32.77, for a total transaction of $136,781.98. Following the sale, the chief accounting officer directly owned 62,756 shares of the company's stock, valued at $2,056,514.12. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,798 shares of company stock worth $2,158,088 over the last ninety days. Company insiders own 18.20% of the company's stock.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of the business. Westfield Capital Management Co. LP acquired a new position in shares of Braze in the 1st quarter valued at approximately $54,644,000. Fuller & Thaler Asset Management Inc. acquired a new position in Braze during the 1st quarter worth approximately $50,988,000. Nuveen LLC acquired a new position in Braze during the 1st quarter worth approximately $35,393,000. Norges Bank acquired a new position in Braze during the 2nd quarter worth approximately $24,467,000. Finally, Alliancebernstein L.P. increased its position in Braze by 28.8% during the 2nd quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company's stock worth $65,197,000 after purchasing an additional 518,103 shares in the last quarter. Institutional investors own 90.47% of the company's stock.

About Braze

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.

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