Braze (NASDAQ:BRZE) Stock Price Expected to Rise, Piper Sandler Analyst Says

Braze (NASDAQ:BRZE) had its target price raised by stock analysts at Piper Sandler from $40.00 to $48.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 14.83% from the company’s previous close.

A number of other research firms have also weighed in on BRZE. The Goldman Sachs Group cut their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Oppenheimer reduced their price objective on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. UBS Group cut their price target on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, TD Cowen lowered their price objective on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.89.

Braze Price Performance

BRZE opened at $41.80 on Tuesday. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -35.42 and a beta of 1.15. The business has a fifty day moving average price of $34.29 and a 200 day moving average price of $37.25. Braze has a 12 month low of $29.18 and a 12 month high of $61.53.

Insiders Place Their Bets

In related news, CAO Pankaj Malik sold 3,432 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.45, for a total transaction of $118,232.40. Following the transaction, the chief accounting officer now owns 67,095 shares of the company’s stock, valued at $2,311,422.75. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $32.12, for a total value of $144,540.00. Following the sale, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at approximately $6,944,600.96. This represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,979 shares of company stock valued at $3,688,914. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Braze during the 3rd quarter worth $253,000. Geode Capital Management LLC increased its stake in shares of Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after acquiring an additional 229,660 shares during the period. Vestcor Inc purchased a new position in Braze during the third quarter worth about $1,617,000. Bullseye Asset Management LLC lifted its position in Braze by 14.3% in the third quarter. Bullseye Asset Management LLC now owns 24,750 shares of the company’s stock valued at $801,000 after purchasing an additional 3,100 shares during the period. Finally, Barclays PLC boosted its holdings in Braze by 148.1% in the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after purchasing an additional 64,093 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.