Braze (NASDAQ:BRZE) Given New $55.00 Price Target at Wells Fargo & Company

Braze (NASDAQ:BRZE - Free Report) had its price objective decreased by Wells Fargo & Company from $65.00 to $55.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on BRZE. Barclays dropped their price objective on Braze from $80.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, August 26th. Loop Capital reissued a "buy" rating and issued a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Oppenheimer cut their price objective on shares of Braze from $60.00 to $51.00 and set an "outperform" rating for the company in a research report on Tuesday, September 24th. The Goldman Sachs Group lowered their target price on shares of Braze from $65.00 to $47.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Finally, TD Cowen reduced their price target on shares of Braze from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.95.

Braze Stock Performance

NASDAQ BRZE traded down $0.03 during trading on Tuesday, hitting $39.09. 562,571 shares of the company's stock traded hands, compared to its average volume of 1,034,007. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -33.02 and a beta of 1.03. Braze has a 12-month low of $29.18 and a 12-month high of $61.53. The business has a 50 day moving average of $33.07 and a 200-day moving average of $37.38.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million for the quarter, compared to analysts' expectations of $141.32 million. During the same period in the prior year, the company posted ($0.30) EPS. Braze's revenue was up 26.4% compared to the same quarter last year. On average, 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 company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $43.41, for a total transaction of $195,345.00. Following the completion of the transaction, the chief financial officer now directly owns 216,208 shares of the company's stock, valued at approximately $9,385,589.28. This represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 8,553 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $44.31, for a total value of $378,983.43. Following the transaction, the general counsel now owns 206,930 shares in the company, valued at approximately $9,169,068.30. This represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,479 shares of company stock valued at $4,414,911. Insiders own 24.03% of the company's stock.

Institutional Trading of Braze

Several large investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company's stock worth $54,000 after buying an additional 276 shares in the last quarter. Blair William & Co. IL raised its position in shares of Braze by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company's stock worth $502,000 after acquiring an additional 283 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company's stock valued at $85,000 after purchasing an additional 290 shares during the period. American International Group Inc. boosted its position in shares of Braze by 1.2% during the first quarter. American International Group Inc. now owns 26,369 shares of the company's stock valued at $1,168,000 after purchasing an additional 310 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Braze by 18.9% in the third quarter. Amalgamated Bank now owns 2,253 shares of the company's stock worth $73,000 after purchasing an additional 358 shares during the period. 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.