Wells Fargo & Company Lowers Braze (NASDAQ:BRZE) Price Target to $50.00

Braze (NASDAQ:BRZE) had its price objective reduced by investment analysts at Wells Fargo & Company from $55.00 to $50.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 39.68% from the stock’s previous close.

BRZE has been the topic of a number of other research reports. DA Davidson decreased their price objective on Braze from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. Stephens assumed coverage on Braze in a report on Wednesday. They set an “overweight” rating and a $43.00 price target on the stock. Piper Sandler lifted their price target on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Macquarie lifted their price target on Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Stifel Nicolaus lifted their price target on Braze from $37.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Braze has a consensus rating of “Buy” and an average price target of $52.45.

Braze Stock Performance

Shares of BRZE stock opened at $35.80 on Friday. The stock’s fifty day moving average is $40.31 and its two-hundred day moving average is $38.13. The firm has a market capitalization of $3.70 billion, a P/E ratio of -31.25 and a beta of 1.17. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $55.47.

Insider Buying and Selling at Braze

In other Braze news, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. Following the completion of the transaction, the general counsel now directly owns 189,520 shares of the company’s stock, valued at $8,949,134.40. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 3,700 shares of Braze stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.77, for a total value of $169,349.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock valued at $3,841,921 in the last three months. 24.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Braze

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in shares of Braze by 4.7% during the fourth quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock worth $2,434,000 after buying an additional 2,605 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Braze during the fourth quarter worth about $1,868,000. State of Wyoming acquired a new position in shares of Braze during the fourth quarter worth about $197,000. ProShare Advisors LLC grew its position in shares of Braze by 33.8% during the fourth quarter. ProShare Advisors LLC now owns 24,536 shares of the company’s stock worth $1,028,000 after buying an additional 6,200 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Braze during the fourth quarter worth about $1,686,000. 90.47% of the stock is owned by institutional investors and hedge funds.

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.