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

Braze (NASDAQ:BRZE) had its price objective trimmed by Wells Fargo & Company from $55.00 to $50.00 in a research note published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on BRZE. Macquarie increased 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. Stifel Nicolaus increased 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. Oppenheimer restated an “outperform” rating and issued a $51.00 price target on shares of Braze in a report on Tuesday, December 10th. Piper Sandler increased 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. Finally, Raymond James lowered their price target on Braze from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $52.45.

Braze Trading Up 2.7 %

NASDAQ BRZE opened at $37.03 on Friday. The stock has a 50-day simple moving average of $40.20 and a 200 day simple moving average of $38.08. The company has a market capitalization of $3.83 billion, a PE ratio of -32.48 and a beta of 1.17. Braze has a 12 month low of $29.18 and a 12 month high of $53.74.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.52, for a total value of $637,280.00. Following the completion of the sale, the general counsel now directly owns 199,520 shares of the company’s stock, valued at $9,082,150.40. This trade represents a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Myles Kleeger sold 8,365 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the sale, the insider now directly owns 168,882 shares of the company’s stock, valued at approximately $6,775,545.84. The trade was a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,470 shares of company stock valued at $3,841,921. Insiders own 24.03% of the company’s stock.

Institutional Trading of Braze

A number of hedge funds have recently made changes to their positions in BRZE. ShawSpring Partners LLC acquired a new stake in shares of Braze in the fourth quarter valued at approximately $62,837,000. Norges Bank acquired a new stake in Braze during the 4th quarter worth approximately $62,639,000. Vanguard Group Inc. lifted its holdings in Braze by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock worth $354,479,000 after purchasing an additional 1,476,423 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Braze by 121.0% during the 4th 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 last quarter. Finally, Wellington Management Group LLP acquired a new stake in Braze during the 4th quarter worth approximately $50,000,000. 90.47% of the stock is owned by institutional investors and hedge funds.

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.