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

Braze (NASDAQ:BRZE) had its price target decreased by equities research analysts at Wells Fargo & Company from $55.00 to $50.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 39.68% from the stock’s previous close.

Several other research firms have also recently weighed in on BRZE. Piper Sandler boosted their target price on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Stifel Nicolaus boosted their price objective on Braze from $37.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. 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 note on Tuesday, December 10th. Oppenheimer reiterated an “outperform” rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. Finally, William Blair reiterated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Braze presently has a consensus rating of “Buy” and a consensus target price of $52.45.

Braze Stock Down 0.7 %

BRZE stock opened at $35.80 on Friday. The business has a 50 day moving average price of $40.31 and a 200 day moving average price of $38.13. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -31.25 and a beta of 1.17. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $55.47.

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 3,700 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the sale, the chief accounting officer now directly owns 54,784 shares in the company, valued at $2,507,463.68. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Myles Kleeger sold 8,365 shares of the company’s stock in a transaction 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 sale, the insider now owns 168,882 shares in the company, valued at $6,775,545.84. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,470 shares of company stock valued at $3,841,921. Insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV lifted its position in shares of Braze by 2.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company’s stock valued at $559,000 after acquiring an additional 316 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Braze by 3.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after acquiring an additional 346 shares in the last quarter. Tower Research Capital LLC TRC lifted its position 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 valued at $27,000 after acquiring an additional 405 shares in the last quarter. KBC Group NV lifted its position 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. Finally, Aster Capital Management DIFC Ltd lifted its position in Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after buying an additional 827 shares during the period. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.