Braze (NASDAQ:BRZE) Stock Rating Reaffirmed by Oppenheimer

Braze (NASDAQ:BRZE)‘s stock had its “outperform” rating restated by equities researchers at Oppenheimer in a note issued to investors on Thursday, Benzinga reports. They currently have a $75.00 price target on the stock. Oppenheimer’s price objective would suggest a potential upside of 48.28% from the stock’s current price.

Other research analysts also recently issued reports about the company. William Blair reiterated an “outperform” rating on shares of Braze in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Braze from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, November 29th. Scotiabank raised their price objective on Braze from $54.00 to $65.00 and gave the company a “sector perform” rating in a research report on Thursday, December 7th. Piper Sandler raised their price objective on Braze from $57.00 to $66.00 and gave the company an “overweight” rating in a research report on Thursday, December 7th. Finally, UBS Group raised Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Thursday, March 21st. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Braze has an average rating of “Moderate Buy” and a consensus price target of $64.82.

Braze Stock Up 2.3 %

Shares of BRZE opened at $50.58 on Thursday. Braze has a 12-month low of $25.76 and a 12-month high of $61.53. The stock’s fifty day simple moving average is $55.05 and its 200-day simple moving average is $51.24. The firm has a market capitalization of $5.05 billion, a PE ratio of -36.39 and a beta of 1.21.

Insider Activity

In other news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.32, for a total transaction of $76,980.00. Following the completion of the sale, the director now directly owns 11,056 shares in the company, valued at approximately $567,393.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $49.78, for a total transaction of $746,700.00. Following the completion of the transaction, the insider now owns 171,709 shares of the company’s stock, valued at approximately $8,547,674.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.32, for a total value of $76,980.00. Following the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at approximately $567,393.92. The disclosure for this sale can be found here. In the last three months, insiders sold 75,471 shares of company stock worth $4,196,153. 26.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fred Alger Management LLC acquired a new stake in shares of Braze in the third quarter valued at about $29,000. BluePath Capital Management LLC bought a new stake in shares of Braze during the 3rd quarter valued at about $31,000. Neo Ivy Capital Management bought a new stake in shares of Braze during the 4th quarter valued at about $40,000. Canton Hathaway LLC bought a new position in Braze in the fourth quarter worth approximately $42,000. Finally, Comerica Bank boosted its holdings in Braze by 377.2% in the fourth quarter. Comerica Bank now owns 940 shares of the company’s stock worth $50,000 after acquiring an additional 743 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

About Braze

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.