Braze (NASDAQ:BRZE) Reaches New 12-Month Low After Analyst Downgrade

Braze, Inc. (NASDAQ:BRZE)’s stock price reached a new 52-week low during trading on Tuesday after Oppenheimer lowered their price target on the stock from $60.00 to $51.00. Oppenheimer currently has an outperform rating on the stock. Braze traded as low as $32.24 and last traded at $32.27, with a volume of 212670 shares. The stock had previously closed at $34.63.

Other analysts also recently issued reports about the company. Barclays cut their target price on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. BTIG Research dropped their price target on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Loop Capital restated a “buy” rating and set a $75.00 price objective on shares of Braze in a research report on Tuesday. TD Cowen dropped their target price on Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Citigroup boosted their price target on Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $60.82.

Insider Activity at Braze

In other news, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $44.00, for a total value of $151,668.00. Following the transaction, the general counsel now owns 206,930 shares in the company, valued at approximately $9,104,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Susan Wiseman sold 3,447 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the sale, the general counsel now directly owns 206,930 shares in the company, valued at approximately $9,104,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Myles Kleeger sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the transaction, the insider now owns 199,963 shares of the company’s stock, valued at approximately $9,128,310.95. The disclosure for this sale can be found here. Insiders have sold 188,727 shares of company stock valued at $8,140,693 over the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. M&G Plc bought a new stake in Braze during the first quarter worth about $6,724,000. Occudo Quantitative Strategies LP bought a new stake in Braze in the 4th quarter worth $5,397,000. Vanguard Group Inc. increased its position in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after acquiring an additional 148,366 shares during the period. Silvercrest Asset Management Group LLC bought a new position in shares of Braze during the first quarter valued at about $5,714,000. Finally, Swiss National Bank raised its stake in shares of Braze by 14.3% during the first quarter. Swiss National Bank now owns 106,000 shares of the company’s stock valued at $4,696,000 after acquiring an additional 13,300 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Stock Down 7.0 %

The company has a market capitalization of $3.27 billion, a PE ratio of -25.21 and a beta of 1.07. The stock’s fifty day moving average price is $40.38 and its two-hundred day moving average price is $41.22.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the company earned ($0.30) EPS. On average, equities research analysts forecast that Braze, Inc. will post -1.05 EPS for the current year.

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.