Braze (NASDAQ:BRZE) Trading Down 4.9%

Braze, Inc. (NASDAQ:BRZE)’s stock price traded down 4.9% during trading on Thursday . The company traded as low as $30.37 and last traded at $30.37. 293,329 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,000,804 shares. The stock had previously closed at $31.92.

Analysts Set New Price Targets

A number of equities analysts have commented on BRZE shares. UBS Group decreased their price target on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. TD Cowen reduced their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. Finally, Canaccord Genuity Group increased their target price on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Eighteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze currently has an average rating of “Buy” and an average target price of $59.18.

Braze Price Performance

The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -23.97 and a beta of 1.07. The business has a 50-day moving average of $39.30 and a 200-day moving average of $40.33.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 business had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. During the same period in the previous year, the business earned ($0.30) earnings per share. The company’s revenue was up 26.4% on a year-over-year basis. As a group, equities analysts anticipate that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 3,558 shares of the company’s 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 directly owns 221,840 shares of the company’s stock, valued at approximately $8,520,874.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Braze news, insider Myles Kleeger sold 9,178 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $379,693.86. Following the completion of the transaction, the insider now directly owns 206,340 shares of the company’s stock, valued at approximately $8,536,285.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 3,558 shares of the 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 transaction, the general counsel now directly owns 221,840 shares in the company, valued at approximately $8,520,874.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,965 shares of company stock worth $7,878,650. 24.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Braze

Institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its stake in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares in the last quarter. Blair William & Co. IL raised its position in Braze by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after purchasing an additional 283 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Braze by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after acquiring an additional 290 shares during the last quarter. American International Group Inc. lifted its position in shares of Braze by 1.2% during the first quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after purchasing an additional 310 shares during the last quarter. Finally, Creative Planning boosted its position 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 buying an additional 384 shares during the period. 90.47% of the stock is 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.