Wells Fargo & Company Lowers Braze (NASDAQ:BRZE) Price Target to $50.00

Braze (NASDAQ:BRZE) had its price target reduced by equities researchers at Wells Fargo & Company from $55.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 35.03% from the company’s current price.

Other analysts also recently issued research reports about the company. DA Davidson reduced their price objective on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Oppenheimer reiterated an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Macquarie raised their price objective on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, Citigroup raised their price objective on Braze from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $52.45.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $37.03 on Friday. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -32.48 and a beta of 1.17. The business’s 50-day simple moving average is $40.20 and its 200-day simple moving average is $38.04. Braze has a 52 week low of $29.18 and a 52 week high of $52.26.

Insider Buying and Selling

In other news, General Counsel Susan Wiseman sold 14,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.52, for a total value of $637,280.00. Following the transaction, the general counsel now owns 199,520 shares of the company’s stock, valued at approximately $9,082,150.40. This represents a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Myles Kleeger sold 8,365 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the transaction, the insider now directly owns 168,882 shares in the company, valued at $6,775,545.84. The trade was a 4.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,470 shares of company stock worth $3,841,921. Corporate insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its position in shares of Braze by 4.7% in the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock valued at $2,434,000 after purchasing an additional 2,605 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Braze in the fourth quarter valued at approximately $1,868,000. State of Wyoming acquired a new position in shares of Braze in the fourth quarter valued at approximately $197,000. ProShare Advisors LLC boosted its stake in shares of Braze by 33.8% in the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock valued at $1,028,000 after buying an additional 6,200 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in shares of Braze in the fourth quarter valued at approximately $1,686,000. 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.