Piper Sandler Reaffirms Overweight Rating for Braze (NASDAQ:BRZE)

Key Points

• Piper Sandler has reiterated an "overweight" rating for Braze (NASDAQ:BRZE) with a price target of $50.00, suggesting a potential 75.81% upside from the current price.
• Multiple brokerages have given buy ratings for Braze, with price targets ranging from $39.00 to $52.00, reflecting strong confidence in the company's stock performance.
• Insiders sold a total of 79,798 shares in the last 90 days, indicating some level of profit-taking among company executives.

Braze (NASDAQ:BRZE - Get Free Report)'s stock had its "overweight" rating reiterated by stock analysts at Piper Sandler in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $50.00 price target on the stock. Piper Sandler's target price would suggest a potential upside of 75.81% from the company's current price.

A number of other brokerages also recently issued reports on BRZE. The Goldman Sachs Group set a $52.00 price objective on shares of Braze and gave the stock a "buy" rating in a research report on Saturday, September 6th. Citigroup increased their price target on shares of Braze from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, September 5th. UBS Group reduced their target price on shares of Braze from $48.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, September 5th. Oppenheimer reduced their target price on shares of Braze from $44.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Finally, Barclays increased their price objective on Braze from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Nineteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.11.

Braze Price Performance

NASDAQ BRZE opened at $28.44 on Wednesday. Braze has a 1 year low of $23.91 and a 1 year high of $48.33. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -27.35 and a beta of 1.10. The company has a fifty day moving average price of $28.44 and a 200-day moving average price of $30.49.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 4,174 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 62,756 shares of the company's stock, valued at approximately $2,056,514.12. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 4,988 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total transaction of $129,388.72. Following the completion of the transaction, the general counsel directly owned 234,667 shares of the company's stock, valued at approximately $6,087,261.98. This trade represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,798 shares of company stock worth $2,158,088 in the last 90 days. 18.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BRZE. GAMMA Investing LLC boosted its stake in Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after purchasing an additional 517 shares during the period. Quarry LP boosted its holdings in Braze by 296.0% in the 1st quarter. Quarry LP now owns 796 shares of the company's stock valued at $29,000 after purchasing an additional 595 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Braze in the 1st quarter valued at $36,000. SBI Securities Co. Ltd. boosted its stake in Braze by 173.3% during the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company's stock valued at $39,000 after buying an additional 870 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in Braze by 821.1% during the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company's stock valued at $44,000 after buying an additional 1,404 shares during the period. Institutional investors own 90.47% of the company's stock.

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.

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