Braze's (BRZE) "Overweight" Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Braze (NASDAQ:BRZE - Free Report) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $66.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group increased their price objective on Braze from $55.00 to $63.00 and gave the company a buy rating in a report on Thursday, December 7th. Canaccord Genuity Group cut their price objective on Braze from $70.00 to $65.00 and set a buy rating for the company in a report on Thursday, March 28th. UBS Group raised Braze from a neutral rating to a buy rating and set a $62.00 price objective for the company in a report on Thursday, March 21st. TD Cowen cut their price objective on Braze from $68.00 to $65.00 and set a buy rating for the company in a report on Thursday, March 28th. Finally, William Blair reissued an outperform rating on shares of Braze in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $64.29.

Braze Price Performance

NASDAQ:BRZE traded up $0.80 during trading hours on Friday, reaching $43.15. 1,549,886 shares of the stock were exchanged, compared to its average volume of 846,660. Braze has a twelve month low of $25.76 and a twelve month high of $61.53. The firm has a 50 day moving average of $53.42 and a 200 day moving average of $51.03. The stock has a market cap of $4.31 billion, a PE ratio of -32.44 and a beta of 1.13.

Insiders Place Their Bets

In related news, insider Myles Kleeger sold 15,000 shares of the firm's stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total value of $746,700.00. Following the transaction, the insider now owns 171,709 shares in the company, valued at $8,547,674.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Braze news, CAO Pankaj Malik sold 1,000 shares of Braze stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $53.73, for a total value of $53,730.00. Following the transaction, the chief accounting officer now owns 77,853 shares in the company, valued at $4,183,041.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $49.78, for a total value of $746,700.00. Following the completion of the transaction, the insider now owns 171,709 shares in the company, valued at approximately $8,547,674.02. The disclosure for this sale can be found here. Insiders have sold 75,471 shares of company stock worth $4,196,153 in the last 90 days. Company insiders own 26.48% of the company's stock.

Institutional Trading of Braze

A number of hedge funds have recently made changes to their positions in BRZE. Fred Alger Management LLC acquired a new stake in shares of Braze during the third quarter valued at about $29,000. BluePath Capital Management LLC acquired a new stake in shares of Braze during the third quarter valued at about $31,000. Royal Bank of Canada boosted its stake in shares of Braze by 189.3% during the third quarter. Royal Bank of Canada now owns 1,160 shares of the company's stock valued at $40,000 after purchasing an additional 759 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Braze during the fourth quarter valued at about $40,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Braze during the fourth quarter valued at about $42,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.