Braze (NASDAQ:BRZE) Given New $65.00 Price Target at TD Cowen

Braze (NASDAQ:BRZE) had its target price decreased by equities research analysts at TD Cowen from $68.00 to $65.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 45.45% from the stock’s current price.

A number of other research firms have also weighed in on BRZE. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a report on Thursday, March 21st. JPMorgan Chase & Co. decreased their price target on shares of Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday. Oppenheimer reissued an “outperform” rating and issued a $75.00 target price on shares of Braze in a research note on Thursday. Scotiabank cut their price target on shares of Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Raymond James lifted their target price on shares of Braze from $52.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, December 7th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Braze presently has an average rating of “Moderate Buy” and an average target price of $64.88.

Braze Stock Performance

Braze stock traded down $5.89 during mid-day trading on Thursday, reaching $44.69. 2,792,273 shares of the company were exchanged, compared to its average volume of 757,808. The business has a fifty day moving average of $55.05 and a 200 day moving average of $51.24. The firm has a market cap of $4.46 billion, a P/E ratio of -32.49 and a beta of 1.21. Braze has a 12-month low of $25.76 and a 12-month high of $61.53.

Insider Buying and Selling

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of Braze 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 of the company’s stock, valued at approximately $567,393.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $51.32, for a total value of $76,980.00. Following the completion of the transaction, the director now owns 11,056 shares of the company’s stock, valued at approximately $567,393.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Isabelle Winkles sold 5,489 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.51, for a total value of $315,672.39. Following the completion of the sale, the chief financial officer now owns 282,564 shares of the company’s stock, valued at $16,250,255.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,471 shares of company stock worth $4,196,153. 26.48% of the stock is owned by corporate insiders.

Institutional Trading of Braze

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fred Alger Management LLC acquired a new stake in Braze in the third quarter valued at $29,000. BluePath Capital Management LLC purchased a new position in shares of Braze during the third quarter worth about $31,000. Neo Ivy Capital Management purchased a new position in shares of Braze during the fourth quarter worth about $40,000. Royal Bank of Canada grew its holdings in shares of Braze by 189.3% during the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after buying an additional 759 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new position in shares of Braze during the fourth quarter worth about $42,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.