Braze (NASDAQ:BRZE) Sets New 1-Year Low – Should You Sell?

Braze, Inc. (NASDAQ:BRZE) reached a new 52-week low during trading on Monday . The stock traded as low as $28.59 and last traded at $28.64, with a volume of 69770 shares traded. The stock had previously closed at $30.98.

Analyst Ratings Changes

Several equities research analysts have commented on BRZE shares. Canaccord Genuity Group raised their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Macquarie raised their target price on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Stifel Nicolaus set a $50.00 target price on Braze and gave the company a “buy” rating in a research note on Friday, March 28th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Friday, March 28th. Finally, Citigroup upped their price objective on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $53.00.

Braze Trading Down 1.8 %

The stock has a 50-day moving average of $38.61 and a two-hundred day moving average of $38.01. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -26.86 and a beta of 1.13.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. The company had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the company posted ($0.04) earnings per share. Sell-side analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Myles Kleeger sold 7,149 shares of Braze stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $291,822.18. Following the transaction, the insider now owns 177,247 shares in the company, valued at approximately $7,235,222.54. The trade was a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 2,585 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $105,519.70. Following the transaction, the chief accounting officer now directly owns 52,199 shares in the company, valued at $2,130,763.18. The trade was a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,270 shares of company stock worth $2,643,182. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after purchasing an additional 1,476,423 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 buying an additional 63,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Braze by 27.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock valued at $96,711,000 after buying an additional 500,667 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Braze by 121.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock worth $92,028,000 after buying an additional 1,203,149 shares during the last quarter. Finally, Invesco Ltd. raised its position in Braze by 107.0% during the fourth 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 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.