Wells Fargo & Company Cuts Braze (NASDAQ:BRZE) Price Target to $65.00

Braze (NASDAQ:BRZE) had its price objective reduced by Wells Fargo & Company from $75.00 to $65.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently commented on the stock. William Blair reissued an outperform rating on shares of Braze in a report on Thursday, March 28th. UBS Group upgraded Braze from a neutral rating to a buy rating and set a $62.00 target price for the company in a research report on Thursday, March 21st. Canaccord Genuity Group lowered their price target on Braze from $65.00 to $50.00 and set a buy rating on the stock in a report on Monday, April 22nd. Piper Sandler reissued an overweight rating and set a $66.00 price objective on shares of Braze in a report on Friday, April 5th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $70.00 target price on shares of Braze in a research note on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Braze has a consensus rating of Moderate Buy and an average price target of $64.12.

Braze Price Performance

Braze stock opened at $40.44 on Monday. Braze has a one year low of $25.76 and a one year high of $61.53. The firm has a market capitalization of $4.08 billion, a P/E ratio of -30.41 and a beta of 1.13. The business has a fifty day moving average price of $48.03 and a 200-day moving average price of $50.51.

Braze (NASDAQ:BRZE) last issued its earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. The business had revenue of $130.96 million during the quarter, compared to the consensus estimate of $124.55 million. Sell-side analysts expect that Braze will post -1.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total value of $89,865.00. Following the transaction, the director now owns 11,056 shares in the company, valued at $662,364.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Braze news, CAO Pankaj Malik sold 2,832 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $57.52, for a total transaction of $162,896.64. Following the completion of the transaction, the chief accounting officer now owns 75,021 shares of the company’s stock, valued at approximately $4,315,207.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the sale, the director now owns 11,056 shares in the company, valued at $662,364.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,815 shares of company stock worth $4,164,679. 26.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently made changes to their positions in BRZE. Allspring Global Investments Holdings LLC raised its holdings in Braze by 0.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock worth $13,406,000 after purchasing an additional 984 shares in the last quarter. Aubrey Capital Management Ltd bought a new position in Braze in the first quarter worth about $2,405,000. Strategic Blueprint LLC purchased a new stake in Braze in the first quarter worth about $370,000. Diversified Trust Co lifted its holdings in Braze by 28.1% in the first quarter. Diversified Trust Co now owns 20,728 shares of the company’s stock worth $918,000 after buying an additional 4,551 shares during the period. Finally, Harbour Capital Advisors LLC boosted its position in Braze by 10.2% during the 1st quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock valued at $561,000 after acquiring an additional 1,205 shares in the last quarter. 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.