Wells Fargo & Company Lowers Braze (NASDAQ:BRZE) Price Target to $40.00

Braze (NASDAQ:BRZE) had its target price lowered by stock analysts at Wells Fargo & Company from $55.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 44.51% from the company’s previous close.

Other analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a research report on Friday, March 28th. Citigroup upped their price objective on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Canaccord Genuity Group raised their target price on Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Raymond James lifted their price target on shares of Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. Finally, DA Davidson dropped their price objective on shares of Braze from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Braze currently has a consensus rating of “Buy” and an average target price of $51.75.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $27.68 on Tuesday. The company has a market capitalization of $2.90 billion, a P/E ratio of -24.28 and a beta of 1.13. The business’s 50 day simple moving average is $34.98 and its 200 day simple moving average is $37.68. Braze has a 1 year low of $27.45 and a 1 year high of $48.33.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) EPS. On average, sell-side analysts anticipate that Braze will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In related news, General Counsel Susan Wiseman sold 10,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the transaction, the general counsel now owns 189,520 shares in the company, valued at $8,949,134.40. This represents a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the sale, the director now owns 15,269 shares of the company’s stock, valued at $633,052.74. This trade represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,937 shares of company stock valued at $2,707,581. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 405 shares in the last quarter. GAMMA Investing LLC lifted its stake in Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after purchasing an additional 517 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after acquiring an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Braze during the fourth quarter worth approximately $47,000. 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 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.