Equities researchers at BTIG Research began coverage on shares of Braze (NASDAQ:BRZE – Get Rating) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a "buy" rating and a $34.00 price target on the stock. BTIG Research's target price would suggest a potential upside of 17.81% from the company's previous close.
Other equities analysts have also recently issued research reports about the company. Piper Sandler dropped their price objective on Braze from $38.00 to $33.00 and set an "overweight" rating for the company in a report on Wednesday, December 14th. Cowen reduced their price target on shares of Braze from $47.00 to $44.00 in a research note on Wednesday, December 14th. Loop Capital decreased their price target on shares of Braze from $52.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, December 14th. Raymond James dropped 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. Finally, UBS Group decreased their target price on Braze to $40.00 in a research report on Wednesday, December 14th. Fifteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $42.07.
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Braze Trading Up 2.4 %
Shares of NASDAQ:BRZE opened at $28.86 on Wednesday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -17.28 and a beta of 0.41. Braze has a 12 month low of $22.53 and a 12 month high of $67.48. The firm's 50-day moving average is $26.04 and its 200 day moving average is $34.57.
Insiders Place Their Bets
In other news, insider Myles Kleeger sold 20,000 shares of the company's stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $25.02, for a total transaction of $500,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through
the SEC website. Corporate insiders own 32.14% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of Braze by 189.3% in the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company's stock valued at $40,000 after acquiring an additional 759 shares during the period. Bank of America Corp DE lifted its holdings in shares of Braze by 50,225.0% during the first quarter. Bank of America Corp DE now owns 2,013 shares of the company's stock worth $83,000 after purchasing an additional 2,009 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Braze in the third quarter valued at approximately $108,000. JPMorgan Chase & Co. purchased a new stake in Braze in the second quarter valued at approximately $140,000. Finally, Tower Research Capital LLC TRC acquired a new position in Braze in the 3rd quarter worth approximately $170,000. Hedge funds and other institutional investors own 44.13% of the company's stock.
Braze Company Profile
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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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