Braze (NASDAQ:BRZE) Given New $50.00 Price Target at Wells Fargo & Company

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

BRZE has been the topic of a number of other research reports. Piper Sandler boosted their price objective on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Macquarie boosted their price target on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a research report on Monday, February 3rd. Finally, Citigroup increased their target price on Braze from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $52.45.

Braze Trading Up 2.7 %

NASDAQ BRZE opened at $37.03 on Friday. The stock has a market cap of $3.83 billion, a P/E ratio of -32.48 and a beta of 1.17. The company’s fifty day simple moving average is $40.20 and its 200-day simple moving average is $38.00. Braze has a 52 week low of $29.18 and a 52 week high of $52.26.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 3,486 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.02, for a total value of $139,509.72. Following the sale, the general counsel now owns 182,109 shares of the company’s stock, valued at approximately $7,288,002.18. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 8,365 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the transaction, the insider now owns 168,882 shares of the company’s stock, valued at approximately $6,775,545.84. The trade was a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,470 shares of company stock valued at $3,841,921 over the last quarter. Insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in Braze by 168.0% during 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 during the period. Aster Capital Management DIFC Ltd increased its stake in shares of 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 purchasing an additional 827 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of 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 during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Braze during the fourth quarter valued at approximately $47,000. Finally, KBC Group NV boosted its position in shares of 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 own 90.47% of the company’s stock.

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.