Braze (NASDAQ:BRZE) Reaches New 12-Month Low - What's Next?

Braze, Inc. (NASDAQ:BRZE - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $27.50 and last traded at $27.55, with a volume of 211412 shares changing hands. The stock had previously closed at $29.21.

Wall Street Analyst Weigh In

A number of research firms recently commented on BRZE. Raymond James increased their price target on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Wells Fargo & Company lowered their target price on shares of Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday. DA Davidson cut their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Stephens started coverage on shares of Braze in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price objective for the company. Finally, Piper Sandler dropped their target price on shares of Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $51.25.

Braze Stock Up 0.4 %

The company has a market cap of $3.19 billion, a P/E ratio of -26.77 and a beta of 1.13. The firm's 50-day moving average price is $34.21 and its 200-day moving average price is $37.54.

Braze (NASDAQ:BRZE - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. The firm had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business's quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) earnings per share. As a group, analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Transactions at Braze

In related news, CTO Jonathan Hyman sold 5,210 shares of the company'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 transaction of $212,672.20. Following the sale, the chief technology officer now owns 157,810 shares of the company's stock, valued at approximately $6,441,804.20. This represents a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Magnuson sold 18,050 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the transaction, the chief executive officer now owns 564,766 shares of the company's stock, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,937 shares of company stock valued at $2,707,581. 24.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Braze

Institutional investors and hedge funds have recently made changes to their positions in the stock. ShawSpring Partners LLC bought a new position in Braze in the fourth quarter valued at $62,837,000. Norges Bank bought a new stake in Braze in the 4th quarter worth approximately $62,639,000. Vanguard Group Inc. boosted 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 worth $354,479,000 after buying an additional 1,476,423 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Braze by 121.0% during the fourth 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 last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Braze in the 4th quarter worth approximately $50,000,000. Hedge funds and other institutional investors 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.