Needham & Company LLC Reaffirms “Buy” Rating for Braze (NASDAQ:BRZE)

Needham & Company LLC restated their buy rating on shares of Braze (NASDAQ:BRZE) in a research note published on Monday,Benzinga reports. Needham & Company LLC currently has a $50.00 price objective on the stock.

BRZE has been the topic of several other reports. Macquarie increased their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Piper Sandler raised their price target on shares of Braze from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Citigroup boosted their price objective on shares of Braze from $47.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Stifel Nicolaus raised their target price on shares of Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group decreased their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.74.

Braze Price Performance

Shares of Braze stock opened at $41.52 on Monday. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -36.42 and a beta of 1.13. The company has a 50-day moving average of $43.13 and a 200 day moving average of $38.93.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the sale, the general counsel now directly owns 189,520 shares of the company’s stock, valued at approximately $8,949,134.40. This trade represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 9,225 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total transaction of $317,801.25. Following the completion of the transaction, the insider now directly owns 190,738 shares in the company, valued at $6,570,924.10. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,583 shares of company stock valued at $7,797,668 over the last quarter. 24.03% of the stock is owned by insiders.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. KBC Group NV grew its stake in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after buying an additional 615 shares in the last quarter. Amalgamated Bank grew its position in Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after acquiring an additional 358 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Braze during the fourth quarter worth about $165,000. Moody National Bank Trust Division acquired a new stake in shares of Braze during the fourth quarter worth about $233,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Braze in the fourth quarter valued at approximately $236,000. Hedge funds and other institutional investors 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.