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

Braze (NASDAQ:BRZE) had its price target reduced by Wells Fargo & Company from $55.00 to $50.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on BRZE. Stephens began coverage on shares of Braze in a research report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price on the stock. Oppenheimer reissued an “outperform” rating and set a $51.00 price objective on shares of Braze in a report on Tuesday, December 10th. DA Davidson dropped their target price on shares of Braze from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Stifel Nicolaus upped their price target on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Braze in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $52.45.

Braze Trading Up 2.7 %

Shares of BRZE stock opened at $37.03 on Friday. The stock has a 50 day simple moving average of $40.20 and a 200-day simple moving average of $38.00. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -32.48 and a beta of 1.17. Braze has a 12-month low of $29.18 and a 12-month high of $52.26.

Insider Buying and Selling at Braze

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $40.02, for a total value of $139,509.72. Following the transaction, the general counsel now owns 182,109 shares in the company, valued at $7,288,002.18. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Magnuson sold 18,050 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the sale, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,470 shares of company stock worth $3,841,921 in the last 90 days. 24.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRZE. Tower Research Capital LLC TRC lifted its stake in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd raised its holdings 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 buying an additional 827 shares during the period. EverSource Wealth Advisors LLC lifted its position in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after buying an additional 928 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Braze during the fourth quarter worth approximately $47,000. Finally, KBC Group NV grew its stake in Braze by 41.5% during the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares during the period. 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.