Braze (NASDAQ:BRZE) Sets New 1-Year Low at $31.77

Braze, Inc. (NASDAQ:BRZE) reached a new 52-week low during trading on Tuesday . The stock traded as low as $31.77 and last traded at $31.93, with a volume of 423872 shares changing hands. The stock had previously closed at $32.34.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BRZE. Raymond James decreased their price target on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. Loop Capital reaffirmed a “buy” rating and issued a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. DA Davidson dropped their target price on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Canaccord Genuity Group increased their price objective on Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, TD Cowen dropped their target price on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Eighteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $59.18.

Braze Stock Down 0.4 %

The stock has a 50 day moving average price of $39.59 and a two-hundred day moving average price of $40.51. The company has a market cap of $3.27 billion, a P/E ratio of -25.27 and a beta of 1.07.

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

Insider Transactions at Braze

In related news, insider Myles Kleeger sold 9,178 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $379,693.86. Following the sale, the insider now owns 206,340 shares in the company, valued at approximately $8,536,285.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William Magnuson sold 17,840 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $738,040.80. Following the completion of the transaction, the chief executive officer now directly owns 600,749 shares in the company, valued at $24,852,986.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Myles Kleeger sold 9,178 shares of Braze stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $379,693.86. Following the sale, the insider now directly owns 206,340 shares of the company’s stock, valued at approximately $8,536,285.80. The disclosure for this sale can be found here. Insiders have sold 181,965 shares of company stock valued at $7,878,650 in the last 90 days. 24.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRZE. Neo Ivy Capital Management bought a new position in shares of Braze during the fourth quarter valued at approximately $40,000. Covestor Ltd lifted its stake in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after buying an additional 738 shares in the last quarter. Comerica Bank grew its holdings in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the last quarter. Quarry LP bought a new stake in shares of Braze during the second quarter valued at approximately $50,000. Finally, RiverPark Advisors LLC lifted its position in Braze by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after acquiring an additional 1,411 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.