Braze (NASDAQ:BRZE) Price Target Lowered to $55.00 at Wells Fargo & Company

Braze (NASDAQ:BRZE) had its price target cut by Wells Fargo & Company from $65.00 to $55.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also commented on BRZE. Oppenheimer cut their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. Macquarie assumed coverage on shares of Braze in a research report on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target on the stock. Barclays decreased their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Stifel Nicolaus started coverage on shares of Braze in a report on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 target price on the stock. Finally, UBS Group decreased their price target on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.95.

Braze Price Performance

NASDAQ:BRZE opened at $39.10 on Tuesday. Braze has a one year low of $29.18 and a one year high of $61.53. The company has a market cap of $4.02 billion, a PE ratio of -33.02 and a beta of 1.03. The firm’s 50 day simple moving average is $33.07 and its 200 day simple moving average is $37.38.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.30) earnings per share. Equities research analysts expect that Braze will post -1.02 EPS for the current year.

Insider Activity at Braze

In other news, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $43.41, for a total value of $195,345.00. Following the transaction, the chief financial officer now owns 216,208 shares in the company, valued at $9,385,589.28. This trade represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Pankaj Malik sold 3,432 shares of Braze stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the transaction, the chief accounting officer now directly owns 67,095 shares in the company, valued at approximately $2,311,422.75. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,479 shares of company stock valued at $4,414,911. 24.03% of the stock is owned by corporate insiders.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently made changes to their positions in BRZE. Quarry LP bought a new stake in Braze in the 2nd quarter worth about $50,000. Comerica Bank grew its holdings in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares in the last quarter. KBC Group NV increased 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 valued at $68,000 after acquiring an additional 615 shares during the last quarter. Amalgamated Bank lifted its holdings in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after acquiring an additional 358 shares during the period. Finally, Canton Hathaway LLC lifted its holdings in Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 shares during the period. Hedge funds and other 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.