Wells Fargo & Company Issues Pessimistic Forecast for Braze (NASDAQ:BRZE) Stock Price

Braze (NASDAQ:BRZE) had its target price lowered by investment analysts at Wells Fargo & Company from $65.00 to $55.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 40.59% from the stock’s current price.

Several other equities analysts have also recently weighed in on BRZE. The Goldman Sachs Group cut their target price on shares of Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research note on Tuesday, September 24th. Stifel Nicolaus started coverage on Braze in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 price objective on the stock. TD Cowen lowered their price target on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Piper Sandler lowered their price objective on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.95.

Braze Price Performance

BRZE opened at $39.12 on Tuesday. The stock has a 50-day moving average price of $33.07 and a 200-day moving average price of $37.38. Braze has a 1 year low of $29.18 and a 1 year high of $61.53. The firm has a market cap of $4.02 billion, a PE ratio of -33.15 and a beta of 1.03.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) EPS. As a group, sell-side analysts anticipate that Braze will post -1.02 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction that occurred on 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 owns 216,208 shares of the company’s stock, valued at approximately $9,385,589.28. This trade represents a 2.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jonathan Hyman sold 6,930 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the transaction, the chief technology officer now owns 163,020 shares in the company, valued at $5,616,039. This trade represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,479 shares of company stock valued at $4,414,911 over the last quarter. 24.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Braze

Several hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in Braze during the second quarter worth about $50,000. Comerica Bank increased its stake in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the period. KBC Group NV lifted its holdings in Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after buying an additional 615 shares in the last quarter. Amalgamated Bank boosted its position in Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares during the period. Finally, Canton Hathaway LLC grew its stake in shares of Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 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.