Braze (NASDAQ:BRZE) Price Target Cut to $40.00 by Analysts at Wells Fargo & Company

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

Several other analysts also recently weighed in on BRZE. Citigroup lifted their target price on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Stifel Nicolaus set a $50.00 price target on Braze and gave the company a "buy" rating in a report on Friday, March 28th. Canaccord Genuity Group lifted their price objective on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, March 28th. DA Davidson decreased their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of Braze in a research note 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $51.25.

Braze Trading Up 0.1 %

BRZE traded up $0.02 on Tuesday, hitting $30.35. 18,293 shares of the company's stock traded hands, compared to its average volume of 1,232,906. Braze has a one year low of $27.45 and a one year high of $48.33. The company's 50 day simple moving average is $34.21 and its 200-day simple moving average is $37.54. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -26.51 and a beta of 1.13.

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

Insider Buying and Selling at Braze

In other Braze news, General Counsel Susan Wiseman sold 4,167 shares of Braze stock in a transaction on Friday, April 4th. The shares were sold at an average price of $30.98, for a total transaction of $129,093.66. Following the sale, the general counsel now owns 248,999 shares of the company's stock, valued at $7,713,989.02. The trade was a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the transaction, the director now directly owns 15,269 shares in the company, valued at approximately $633,052.74. This represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,937 shares of company stock valued at $2,707,581 over the last quarter. 24.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Braze

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Braze by 2.4% during the 4th 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% during the 4th quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock valued at $96,711,000 after acquiring an additional 500,667 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Braze by 121.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company's stock worth $92,028,000 after purchasing an additional 1,203,149 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Braze by 107.0% during the fourth quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock worth $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.

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.