Wells Fargo & Company Lowers Braze (NASDAQ:BRZE) Price Target to $40.00

Braze (NASDAQ:BRZE - Free Report) had its price target trimmed by Wells Fargo & Company from $55.00 to $40.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on BRZE. DA Davidson cut their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the company a "buy" rating in a research report on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Braze in a research note on Friday, March 28th. Citigroup raised their price objective on Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Raymond James boosted their target price on Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $51.25.

Braze Trading Up 2.9 %

Shares of Braze stock traded up $0.89 on Tuesday, reaching $31.22. 786,676 shares of the stock were exchanged, compared to its average volume of 1,240,675. The firm has a market capitalization of $3.27 billion, a PE ratio of -27.39 and a beta of 1.13. Braze has a 1-year low of $27.45 and a 1-year high of $48.33. The business has a fifty day moving average price of $34.00 and a two-hundred day moving average price of $37.61.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. During the same period in the prior year, the business posted ($0.04) EPS. The company's revenue for the quarter was up 22.4% on a year-over-year basis. Research analysts expect that Braze will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other Braze news, CEO William Magnuson sold 18,050 shares of Braze stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares in the company, valued at $23,053,748.12. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Susan Wiseman sold 10,000 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the sale, the general counsel now owns 189,520 shares of the company's stock, valued at approximately $8,949,134.40. The trade was a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,937 shares of company stock valued at $2,707,581 in the last quarter. 24.03% of the stock is currently owned by company insiders.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently bought and sold shares of BRZE. Vanguard Group Inc. boosted its position in Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after buying an additional 1,476,423 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Braze by 2.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company's stock worth $112,798,000 after acquiring an additional 63,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Braze by 27.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock valued at $96,711,000 after purchasing an additional 500,667 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Braze by 121.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company's stock valued at $92,028,000 after purchasing an additional 1,203,149 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Braze by 107.0% during the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock valued at $82,246,000 after purchasing an additional 1,015,007 shares in the last quarter. 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.