Weiss Ratings Reaffirms "Sell (E+)" Rating for Braze (NASDAQ:BRZE)

Key Points

• Weiss Ratings has reaffirmed its "sell (E+)" rating for Braze (NASDAQ:BRZE), indicating caution for potential investors.
• Despite the sell rating from Weiss, several other firms, including Goldman Sachs and Barclays, have issued buy or overweight ratings with varying price targets, suggesting a mixed sentiment among analysts.
• Braze's stock price has seen fluctuations with a recent trading high of $28.15 and a twelve-month range between $23.91 and $48.33.

Braze (NASDAQ:BRZE - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also commented on BRZE. The Goldman Sachs Group set a $52.00 price objective on Braze and gave the stock a "buy" rating in a research note on Saturday, September 6th. Barclays boosted their price objective on Braze from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Mizuho boosted their target price on Braze from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. UBS Group decreased their price objective on Braze from $48.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, September 5th. Finally, William Blair reissued an "outperform" rating on shares of Braze in a research report on Wednesday, October 1st. Nineteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Braze currently has a consensus rating of "Moderate Buy" and an average price target of $45.11.

Braze Price Performance

BRZE stock traded up $0.54 during trading on Wednesday, hitting $28.15. The stock had a trading volume of 1,687,161 shares, compared to its average volume of 1,560,237. Braze has a twelve month low of $23.91 and a twelve month high of $48.33. The company's 50-day moving average price is $28.34 and its two-hundred day moving average price is $30.21. The stock has a market capitalization of $3.13 billion, a P/E ratio of -27.07 and a beta of 1.10.

Insider Buying and Selling

In other news, insider Astha Malik sold 13,049 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $25.94, for a total transaction of $338,491.06. Following the completion of the sale, the insider owned 236,930 shares in the company, valued at approximately $6,145,964.20. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Pankaj Malik sold 4,174 shares of the 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 owned 62,756 shares of the company's stock, valued at $2,056,514.12. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,798 shares of company stock valued at $2,158,088 over the last ninety days. Company insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On Braze

A number of hedge funds have recently added to or reduced their stakes in BRZE. GAMMA Investing LLC lifted its position in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after purchasing an additional 517 shares during the period. Quarry LP lifted its position in Braze by 296.0% in the first 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 acquired a new stake in Braze in the first quarter valued at about $36,000. SBI Securities Co. Ltd. lifted its position in Braze by 173.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company's stock valued at $39,000 after purchasing an additional 870 shares during the period. Finally, Osaic Holdings Inc. lifted its position in Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company's stock valued at $44,000 after purchasing an additional 1,404 shares during the period. Institutional investors and hedge funds 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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