Braze (NASDAQ:BRZE) Given Overweight Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Braze (NASDAQ:BRZE) in a report released on Wednesday,Benzinga reports. Piper Sandler currently has a $50.00 price objective on the stock.

BRZE has been the topic of a number of other reports. Loop Capital cut their price objective on Braze from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, June 6th. Citigroup raised their target price on Braze from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, September 5th. The Goldman Sachs Group set a $52.00 target price on Braze and gave the company a “buy” rating in a report on Saturday, September 6th. Stephens set a $41.00 target price on Braze and gave the company an “overweight” rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald raised their target price on Braze from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Nineteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.11.

Braze Stock Performance

Shares of BRZE stock opened at $28.42 on Wednesday. The stock’s 50 day simple moving average is $28.40 and its 200 day simple moving average is $30.37. Braze has a twelve month low of $23.91 and a twelve month high of $48.33. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -27.33 and a beta of 1.10.

Insider Activity at Braze

In other news, CAO Pankaj Malik sold 4,174 shares of Braze stock in a transaction that occurred on 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 approximately $2,056,514.12. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Magnuson sold 24,325 shares of Braze stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $25.94, for a total value of $630,990.50. Following the sale, the chief executive officer directly owned 721,444 shares in the company, valued at $18,714,257.36. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,798 shares of company stock worth $2,158,088 in the last three months. Company insiders own 18.20% of the company’s stock.

Institutional Trading of Braze

Several institutional investors have recently bought and sold shares of BRZE. Westfield Capital Management Co. LP acquired a new stake in Braze in the 1st quarter valued at $54,644,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Braze in the 1st quarter valued at $50,988,000. Nuveen LLC acquired a new stake in Braze in the 1st quarter valued at $35,393,000. Norges Bank acquired a new stake in Braze in the 2nd quarter valued at $24,467,000. Finally, Alliancebernstein L.P. boosted its stake in Braze by 28.8% in the 2nd quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock valued at $65,197,000 after buying an additional 518,103 shares in the last quarter. 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.