Braze (NASDAQ:BRZE) Hits New 1-Year Low - Here's What Happened

Braze, Inc. (NASDAQ:BRZE - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $30.36 and last traded at $30.65, with a volume of 27789 shares changing hands. The stock had previously closed at $31.08.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BRZE shares. Oppenheimer dropped their price objective on Braze from $60.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, September 24th. DA Davidson dropped their price objective on Braze from $65.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, September 24th. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 target price on shares of Braze in a report on Tuesday, September 24th. Piper Sandler reiterated an "overweight" rating and issued a $51.00 target price on shares of Braze in a report on Friday, September 6th. Finally, Barclays lowered their target price on Braze from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Monday, August 26th. Eighteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $59.18.

Braze Trading Down 2.6 %

The stock has a market capitalization of $3.08 billion, a P/E ratio of -23.75 and a beta of 1.03. The company has a 50-day moving average price of $38.84 and a 200 day moving average price of $39.96.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same period in the previous year, the company posted ($0.30) EPS. The business's revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, research analysts expect that Braze, Inc. will post -1.02 earnings per share for the current year.

Insider Activity at Braze

In related news, CFO Isabelle Winkles sold 4,500 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $32.12, for a total transaction of $144,540.00. Following the transaction, the chief financial officer now directly owns 216,208 shares of the company's stock, valued at $6,944,600.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Isabelle Winkles sold 4,500 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $32.12, for a total value of $144,540.00. Following the completion of the transaction, the chief financial officer now directly owns 216,208 shares in the company, valued at $6,944,600.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 3,558 shares of the firm's stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $38.41, for a total value of $136,662.78. Following the completion of the transaction, the general counsel now owns 221,840 shares of the company's stock, valued at approximately $8,520,874.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,465 shares of company stock valued at $8,023,190 in the last ninety days. Corporate insiders own 24.03% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BRZE. M&G Plc acquired a new stake in Braze during the first quarter worth about $6,724,000. Occudo Quantitative Strategies LP acquired a new stake in Braze during the fourth quarter worth about $5,397,000. Point72 Asset Management L.P. acquired a new stake in Braze during the second quarter worth about $10,166,000. Vanguard Group Inc. grew its holdings in Braze by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company's stock worth $261,146,000 after acquiring an additional 148,366 shares during the period. Finally, Silvercrest Asset Management Group LLC acquired a new stake in Braze during the first quarter worth about $5,714,000. 90.47% of the stock is currently owned by hedge funds and other 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.