Braze, Inc. (NASDAQ:BRZE) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a bullish outlook: Twenty firms give Braze an average “Moderate Buy” rating, including 18 buys and one strong buy. The average 12-month price target is $36.59, above the reported $31.96 opening price.
• Recent targets were raised: JPMorgan, Oppenheimer and BTIG increased their price objectives to $35, $36 and $35, respectively, while maintaining positive ratings.
• Insiders have been selling shares: Executives sold 203,568 shares worth approximately $6.1 million during the last quarter, though insiders still own 12.5% of the company and institutional investors hold 90.47%.

Shares of Braze, Inc. (NASDAQ:BRZE - Get Free Report) have received an average rating of "Moderate Buy" from the twenty research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $36.5882.

BRZE has been the subject of a number of recent research reports. Stifel Nicolaus set a $30.00 target price on Braze in a research note on Thursday, May 28th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $35.00 price objective on shares of Braze in a research report on Thursday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of Braze from $33.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Oppenheimer lifted their price objective on shares of Braze from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Finally, BTIG Research boosted their target price on shares of Braze from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, August 14th.

Braze Price Performance

Shares of BRZE stock opened at $31.96 on Monday. Braze has a fifty-two week low of $15.26 and a fifty-two week high of $37.33. The firm's 50 day moving average price is $27.18 and its two-hundred day moving average price is $23.34. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -28.54 and a beta of 0.88.

Insider Buying and Selling

In other Braze news, CTO Jonathan Hyman sold 42,000 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $32.47, for a total value of $1,363,740.00. Following the completion of the transaction, the chief technology officer directly owned 1,143,219 shares of the company's stock, valued at $37,120,320.93. This represents a 3.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Edward Mcdonnell sold 29,732 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $31.38, for a total value of $932,990.16. Following the sale, the executive owned 409,630 shares of the company's stock, valued at $12,854,189.40. This represents a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 203,568 shares of company stock valued at $6,096,461 in the last quarter. Company insiders own 12.50% of the company's stock.

Hedge Funds Weigh In On Braze

Several institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp bought a new stake in shares of Braze in the first quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its holdings in Braze by 3,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company's stock valued at $28,000 after acquiring an additional 803 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in Braze during the 2nd quarter valued at $36,000. Osaic Holdings Inc. boosted its stake in Braze by 821.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,575 shares of the company's stock valued at $44,000 after acquiring an additional 1,404 shares during the last quarter. Finally, Quarry LP acquired a new position in Braze during the 3rd quarter worth $46,000. 90.47% of the stock is currently owned by hedge funds and other 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.

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