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

Braze (NASDAQ:BRZE) had its price target cut by analysts at Wells Fargo & Company from $65.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 40.59% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Barclays reduced 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. Piper Sandler reduced their target price on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Loop Capital reissued a “buy” rating and issued a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. JMP Securities restated a “market outperform” rating and set a $68.00 price objective on shares of Braze in a report on Tuesday, September 24th. Finally, DA Davidson lowered their target price on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $53.95.

Braze Price Performance

Braze stock opened at $39.12 on Tuesday. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The firm has a market capitalization of $4.02 billion, a PE ratio of -33.15 and a beta of 1.03. The company’s 50-day moving average is $33.07 and its 200-day moving average is $37.38.

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

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 3,432 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the completion of the transaction, the chief accounting officer now owns 67,095 shares of the company’s stock, valued at approximately $2,311,422.75. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,479 shares of company stock worth $4,414,911 over the last three months. Corporate insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

A number of institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Braze during the second quarter valued at about $50,000. Comerica Bank lifted its stake in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares in the last quarter. KBC Group NV boosted its holdings in shares of Braze by 41.5% in the third quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares during the period. Amalgamated Bank grew its holdings in Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares in the last quarter. Finally, Canton Hathaway LLC grew its position in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after purchasing an additional 1,187 shares in the last quarter. Institutional investors 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.