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

Braze, Inc. (NASDAQ:BRZE - Get Free Report) shares hit a new 52-week low on Monday . The company 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.

Analysts Set New Price Targets

BRZE has been the subject of several research reports. Wells Fargo & Company restated an "overweight" rating and set a $55.00 price objective (up from $50.00) on shares of Braze in a research report on Friday, March 28th. William Blair reiterated an "outperform" rating on shares of Braze in a research note on Thursday, December 19th. Stephens assumed coverage on shares of Braze in a research note on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Braze in a report on Friday, March 28th. Finally, DA Davidson restated a "buy" rating and issued a $50.00 price target on shares of Braze in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $53.00.

Braze Stock Performance

The business's 50 day moving average price is $36.60 and its 200-day moving average price is $37.78. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -25.46 and a beta of 1.13.

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

Insider Activity

In related news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total transaction of $64,695.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at $658,551.97. The trade was a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 10,000 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the sale, the general counsel now directly owns 189,520 shares of the company's stock, 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 sold 67,437 shares of company stock valued at $2,772,276. 24.03% of the stock is currently owned by insiders.

Institutional Trading of Braze

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after buying an additional 827 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after buying an additional 928 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Braze during the fourth quarter valued at about $47,000. Finally, Versant Capital Management Inc acquired a new position in Braze during the first quarter worth about $54,000. 90.47% of the stock is currently owned by 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.