BTIG Research initiated coverage on shares of Braze (NASDAQ:BRZE – Get Rating) in a report issued on Wednesday morning, The Fly reports. The brokerage issued a buy rating and a $34.00 target price on the stock.

BRZE has been the subject of a number of other reports. Cowen reduced their price target on shares of Braze from $47.00 to $44.00 in a report on Wednesday, December 14th. Needham & Company LLC lowered their target price on shares of Braze from $70.00 to $50.00 and set a buy rating on the stock in a research note on Friday, October 14th. The Goldman Sachs Group cut their price target on shares of Braze from $57.00 to $48.00 and set a buy rating for the company in a research note on Thursday, December 15th. Loop Capital lowered their price objective on Braze from $52.00 to $40.00 and set a buy rating on the stock in a research note on Wednesday, December 14th. Finally, Raymond James lowered their price objective on Braze from $50.00 to $38.00 and set an outperform rating on the stock in a research note on Wednesday, December 14th. Fifteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Braze currently has an average rating of Buy and an average price target of $42.07.

Braze Price Performance

Shares of Braze stock opened at $30.73 on Wednesday. Braze has a fifty-two week low of $22.53 and a fifty-two week high of $67.48. The firm has a fifty day moving average price of $26.19 and a two-hundred day moving average price of $34.48. The company has a market cap of $2.94 billion, a PE ratio of -18.40 and a beta of 0.42.

Insider Buying and Selling

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BRZE. Sapphire Ventures L.L.C. acquired a new position in Braze during the 2nd quarter worth $63,235,000. Cadian Capital Management LP lifted its stake in shares of Braze by 60.5% in the 3rd quarter. Cadian Capital Management LP now owns 4,622,677 shares of the company's stock valued at $161,008,000 after purchasing an additional 1,742,969 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Braze by 195.7% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 2,506,050 shares of the company's stock valued at $87,286,000 after purchasing an additional 1,658,690 shares during the period. Vanguard Group Inc. lifted its stake in shares of Braze by 27.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,078,339 shares of the company's stock valued at $107,219,000 after purchasing an additional 662,837 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in shares of Braze in the 2nd quarter valued at $22,693,000. Institutional investors and hedge funds own 44.13% of the company's stock.

About Braze

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Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.

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