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

Braze (NASDAQ:BRZE) had its price objective dropped by equities research analysts at Wells Fargo & Company from $55.00 to $50.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 35.03% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Stephens started coverage on Braze in a research note on Wednesday. They set an “overweight” rating and a $43.00 target price for the company. William Blair restated an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. DA Davidson cut their target price on Braze from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, December 10th. Raymond James cut their target price on Braze from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $51.00 price target on shares of Braze in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Braze currently has an average rating of “Buy” and an average target price of $52.45.

Braze Price Performance

NASDAQ BRZE opened at $37.03 on Friday. The business has a fifty day moving average price of $40.20 and a two-hundred day moving average price of $38.04. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $52.26. The stock has a market capitalization of $3.83 billion, a PE ratio of -32.48 and a beta of 1.17.

Insiders Place Their Bets

In related news, CAO Pankaj Malik sold 3,700 shares of Braze stock in a transaction that occurred on 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 in the company, valued at approximately $2,507,463.68. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the transaction, the general counsel now owns 189,520 shares of the company’s stock, valued at $8,949,134.40. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock valued at $3,841,921 in the last 90 days. 24.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BRZE. Tower Research Capital LLC TRC grew its position in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after purchasing an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Braze during the 4th quarter valued at $47,000. Finally, KBC Group NV grew its position in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.