Braze (NASDAQ:BRZE) Sets New 1-Year Low – Here’s Why

Braze, Inc. (NASDAQ:BRZE) shares hit a new 52-week low during trading on Friday . The stock traded as low as $25.72 and last traded at $25.85, with a volume of 711085 shares changing hands. The stock had previously closed at $26.82.

Analysts Set New Price Targets

Several brokerages have commented on BRZE. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Friday, June 6th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a “buy” rating in a report on Friday, March 28th. Barclays dropped their price objective on Braze from $70.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Citigroup raised their price objective on Braze from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. dropped their price objective on Braze from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.60.

Braze Stock Performance

The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -25.58 and a beta of 1.22. The business has a 50 day simple moving average of $32.04 and a 200-day simple moving average of $37.18.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The business had revenue of $162.06 million during the quarter, compared to the consensus estimate of $158.60 million. During the same period last year, the company earned ($0.05) EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. Equities analysts predict that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Braze

In other news, CEO William Magnuson sold 25,089 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $900,193.32. Following the completion of the transaction, the chief executive officer now directly owns 745,769 shares in the company, valued at approximately $26,758,191.72. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $122,171.40. Following the transaction, the chief accounting officer now owns 69,274 shares of the company’s stock, valued at approximately $2,485,551.12. This represents a 4.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,150 shares of company stock worth $2,540,814. 18.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Braze

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Braze by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company’s stock valued at $321,542,000 after acquiring an additional 447,746 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings 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 valued at $112,798,000 after acquiring an additional 63,000 shares during the period. 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 boosted 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 valued at $92,028,000 after acquiring an additional 1,203,149 shares during the period. Finally, Invesco Ltd. boosted its holdings in Braze by 107.0% during the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company’s stock valued at $82,246,000 after acquiring an additional 1,015,007 shares during the period. 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.