Braze (NASDAQ:BRZE) Sets New 12-Month Low – Here’s What Happened

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

Wall Street Analysts Forecast Growth

BRZE has been the topic of several research analyst reports. UBS Group reduced their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Piper Sandler restated an “overweight” rating and set a $51.00 price target on shares of Braze in a research report on Friday, September 6th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Finally, Canaccord Genuity Group boosted their target price on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 7th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Braze currently has an average rating of “Buy” and an average price target of $59.18.

Braze Stock Performance

The firm has a 50-day moving average of $39.30 and a 200-day moving average of $40.33. The firm has a market capitalization of $3.11 billion, a P/E ratio of -23.97 and a beta of 1.07.

Braze (NASDAQ:BRZE) last released 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. The company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. Braze’s revenue was up 26.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.30) earnings per share. On average, research analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were 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 the SEC website. Also, insider Myles Kleeger sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the completion of the transaction, the insider now directly owns 199,963 shares in the company, valued at approximately $9,128,310.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,965 shares of company stock valued at $7,878,650. Company insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in shares of Braze in the fourth quarter worth $40,000. Covestor Ltd increased its stake in Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after buying an additional 738 shares in the last quarter. Comerica Bank boosted 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 acquiring an additional 276 shares during the period. Quarry LP purchased a new stake in shares of Braze during the second quarter worth about $50,000. Finally, RiverPark Advisors LLC raised its stake in Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after purchasing an additional 1,411 shares during the period. 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.