Braze (NASDAQ:BRZE) Price Target Cut to $65.00 by Analysts at Wells Fargo & Company

Braze (NASDAQ:BRZE) had its target price dropped by stock analysts at Wells Fargo & Company from $75.00 to $65.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 55.13% from the company’s previous close.

Several other brokerages also recently commented on BRZE. Raymond James reduced their price objective on shares of Braze from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, March 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Braze in a research note on Thursday, March 28th. Scotiabank dropped their price objective on shares of Braze from $65.00 to $58.00 and set a “sector perform” rating on the stock in a report on Thursday, March 28th. Piper Sandler restated an “overweight” rating and issued a $66.00 target price on shares of Braze in a research note on Friday, April 5th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of Braze in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.12.

Braze Stock Performance

NASDAQ:BRZE opened at $41.90 on Monday. Braze has a 52 week low of $25.76 and a 52 week high of $61.53. The firm’s fifty day moving average is $48.33 and its 200-day moving average is $50.54. The firm has a market cap of $4.23 billion, a P/E ratio of -31.50 and a beta of 1.14.

Braze (NASDAQ:BRZE) last announced its earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.02. The company had revenue of $130.96 million for 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%. As a group, sell-side analysts anticipate that Braze will post -1.18 earnings per share for the current year.

Insider Transactions at Braze

In other news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the sale, the director now owns 11,056 shares in the company, valued at approximately $662,364.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total transaction of $89,865.00. Following the transaction, the director now owns 11,056 shares of the company’s stock, valued at approximately $662,364.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the completion of the transaction, the insider now owns 244,291 shares in the company, valued at approximately $13,914,815.36. 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 over the last ninety days. 26.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BRZE. Fred Alger Management LLC bought a new position in shares of Braze during the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC bought a new position in Braze during the third quarter valued at $31,000. Neo Ivy Capital Management purchased a new stake in Braze in the fourth quarter worth $40,000. Canton Hathaway LLC bought a new stake in shares of Braze in the fourth quarter valued at $42,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Braze during the 3rd quarter worth $61,000. 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.