Wells Fargo & Company Lowers Braze (NASDAQ:BRZE) Price Target to $55.00

Braze (NASDAQ:BRZE) had its price target decreased by equities research analysts at Wells Fargo & Company from $65.00 to $55.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 41.68% from the company’s previous close.

BRZE has been the topic of a number of other reports. JPMorgan Chase & Co. cut their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Loop Capital restated a “buy” rating and issued a $75.00 price target on shares of Braze in a research note on Tuesday, September 24th. Macquarie initiated coverage on Braze in a research note on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price objective for the company. DA Davidson reduced their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group dropped their price target on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.95.

Braze Price Performance

NASDAQ BRZE opened at $38.82 on Tuesday. The stock’s 50 day simple moving average is $33.14 and its 200-day simple moving average is $37.37. The company has a market cap of $3.99 billion, a PE ratio of -32.87 and a beta of 1.03. Braze has a 1-year low of $29.18 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. During the same quarter in the previous year, the business earned ($0.30) EPS. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts anticipate that Braze will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jonathan Hyman sold 6,930 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 value of $238,738.50. Following the completion of the sale, the chief technology officer now directly owns 163,020 shares of the company’s stock, valued at approximately $5,616,039. This trade represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,479 shares of company stock valued at $4,414,911 over the last three months. 24.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after acquiring an additional 148,366 shares during the period. American International Group Inc. lifted its position in shares of Braze by 1.2% during the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after acquiring an additional 310 shares during the period. Advisors Asset Management Inc. grew its stake in Braze by 17.8% in the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after acquiring an additional 290 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Braze in the 1st quarter valued at $5,714,000. Finally, California State Teachers Retirement System boosted its stake in Braze by 5.6% during the 1st quarter. California State Teachers Retirement System now owns 53,671 shares of the company’s stock valued at $2,378,000 after purchasing an additional 2,844 shares during the last quarter. 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.