Braze (NASDAQ:BRZE) Given “Buy” Rating at Canaccord Genuity Group

Braze (NASDAQ:BRZE)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity Group in a note issued to investors on Monday,Benzinga reports. They presently have a $43.00 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 130.08% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price objective on Braze from $45.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. TD Cowen reduced their target price on shares of Braze from $43.00 to $30.00 and set a “buy” rating on the stock in a report on Friday. Citigroup lifted their price target on shares of Braze from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Braze in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Braze in a report on Monday, December 29th. Twenty-two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Braze currently has an average rating of “Moderate Buy” and an average target price of $41.48.

Braze Trading Up 2.0%

Shares of NASDAQ BRZE opened at $18.69 on Monday. The stock has a market cap of $2.10 billion, a P/E ratio of -16.85 and a beta of 1.08. The business’s fifty day simple moving average is $20.40 and its 200-day simple moving average is $26.72. Braze has a 12-month low of $15.26 and a 12-month high of $43.89.

Insider Buying and Selling

In other news, CEO William Magnuson sold 26,413 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total value of $447,172.09. Following the completion of the transaction, the chief executive officer owned 4,491,098 shares in the company, valued at approximately $76,034,289.14. This represents a 0.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 5,763 shares of Braze stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $97,567.59. Following the sale, the general counsel owned 214,031 shares in the company, valued at $3,623,544.83. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,676 shares of company stock valued at $1,027,661 over the last three months. 18.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Several hedge funds have recently made changes to their positions in BRZE. Vanguard Group Inc. increased its position in shares of Braze by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock worth $337,793,000 after purchasing an additional 892,635 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Braze by 10.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,687,928 shares of the company’s stock valued at $76,445,000 after purchasing an additional 261,351 shares during the period. JPMorgan Chase & Co. grew its stake in Braze by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock worth $69,831,000 after buying an additional 139,133 shares during the last quarter. Battery Management CORP. grew its stake in Braze by 70.2% during the 3rd quarter. Battery Management CORP. now owns 2,425,000 shares of the company’s stock worth $68,967,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Braze by 28.8% during the second quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock worth $65,197,000 after buying an additional 518,103 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Company Profile

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.