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

Braze (NASDAQ:BRZE) had its price objective decreased by equities researchers at Wells Fargo & Company from $75.00 to $65.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 50.53% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price target on shares of Braze in a research note on Thursday, March 28th. TD Cowen dropped their price objective on shares of Braze from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 price target on shares of Braze in a report on Friday, April 5th. Raymond James decreased their price target on shares of Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Braze in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.12.

Braze Trading Up 3.5 %

Braze stock traded up $1.47 during trading on Monday, reaching $43.18. The company had a trading volume of 429,353 shares, compared to its average volume of 844,225. The firm’s 50-day simple moving average is $48.62 and its 200 day simple moving average is $50.56. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -32.48 and a beta of 1.14. Braze has a 52 week low of $25.76 and a 52 week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. The firm had revenue of $130.96 million during the quarter, compared to analyst estimates of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. On average, analysts predict that Braze will post -1.18 earnings per share for the current year.

Insider Activity

In other news, Director Fernando Machado sold 2,361 shares of Braze stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the sale, the director now directly owns 6,101 shares in the company, valued at $259,048.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $41.79, for a total transaction of $62,685.00. Following the transaction, the director now directly owns 11,056 shares of the company’s stock, valued at $462,030.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the transaction, the director now owns 6,101 shares of the company’s stock, valued at approximately $259,048.46. The disclosure for this sale can be found here. Insiders sold a total of 77,815 shares of company stock valued at $4,164,679 in the last ninety days. 26.48% of the stock is owned by insiders.

Institutional Trading of Braze

Several institutional investors and hedge funds have recently modified their holdings of BRZE. AE Wealth Management LLC purchased a new position in Braze during the third quarter valued at $514,000. Harbor Capital Advisors Inc. raised its position in Braze by 24.8% during the third quarter. Harbor Capital Advisors Inc. now owns 8,841 shares of the company’s stock valued at $413,000 after purchasing an additional 1,759 shares during the period. Arnhold LLC raised its holdings in shares of Braze by 11.1% in the third quarter. Arnhold LLC now owns 5,278 shares of the company’s stock worth $247,000 after buying an additional 529 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Braze by 21.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,678 shares of the company’s stock worth $452,000 after buying an additional 1,684 shares during the period. Finally, BluePath Capital Management LLC bought a new position in Braze in the third quarter worth approximately $31,000. 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.