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

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

Analysts Set New Price Targets

A number of research firms have weighed in on BRZE. Piper Sandler reissued an “overweight” rating and issued a $51.00 target price on shares of Braze in a report on Friday, September 6th. Barclays lowered their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Raymond James cut their target price on shares of Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, June 7th. Citigroup increased their price target on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Braze presently has a consensus rating of “Buy” and a consensus target price of $59.18.

Braze Price Performance

The stock has a fifty day simple moving average of $39.59 and a 200-day simple moving average of $40.51. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -25.27 and a beta of 1.07.

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

Insider Activity at Braze

In other Braze news, General Counsel Susan Wiseman sold 3,558 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $38.41, for a total transaction of $136,662.78. Following the transaction, the general counsel now owns 221,840 shares in the company, valued at $8,520,874.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,558 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $38.41, for a total transaction of $136,662.78. Following the completion of the transaction, the general counsel now directly owns 221,840 shares in the company, valued at $8,520,874.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 1,381 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $41.12, for a total transaction of $56,786.72. Following the transaction, the chief accounting officer now directly owns 72,980 shares in the company, valued at $3,000,937.60. The disclosure for this sale can be found here. Insiders sold a total of 181,965 shares of company stock worth $7,878,650 in the last 90 days. Corporate insiders own 24.03% of the company’s stock.

Institutional Investors Weigh In On Braze

Several large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Braze in the second quarter valued at approximately $10,166,000. Quarry LP purchased a new position in Braze in the 2nd quarter valued at $50,000. Creative Planning lifted its holdings in Braze by 1.7% in the 2nd quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after purchasing an additional 384 shares in the last quarter. Algert Global LLC acquired a new stake in Braze during the 2nd quarter worth $2,376,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Braze during the second quarter worth $971,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

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.