Braze (NASDAQ:BRZE) Hits New 12-Month Low – Here’s What Happened

Braze, Inc. (NASDAQ:BRZE) reached a new 52-week low during trading on Monday . The company traded as low as $27.50 and last traded at $27.55, with a volume of 211412 shares trading hands. The stock had previously closed at $29.21.

Analyst Ratings Changes

A number of brokerages have recently commented on BRZE. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a report on Friday, March 28th. Raymond James upped their price objective on Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. DA Davidson decreased their price objective on Braze from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Citigroup boosted their target price on Braze from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 price target (up from $50.00) on shares of Braze in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Braze presently has a consensus rating of “Buy” and a consensus target price of $52.50.

Braze Stock Down 5.4 %

The business has a 50 day moving average of $35.24 and a 200 day moving average of $37.70. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -24.23 and a beta of 1.13.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) earnings per share. Research analysts predict that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 2,585 shares of the firm’s stock in a transaction that occurred 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 owns 52,199 shares in the company, valued at approximately $2,130,763.18. This trade represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction 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 transaction, the general counsel now owns 189,520 shares in the company, valued at $8,949,134.40. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,937 shares of company stock worth $2,707,581. 24.03% of the stock is owned by company insiders.

Institutional Trading of Braze

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 buying an additional 1,476,423 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Braze by 2.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company’s stock valued at $112,798,000 after purchasing an additional 63,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 500,667 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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, Invesco Ltd. boosted its stake in shares of 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 buying an additional 1,015,007 shares during 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.