Braze (NASDAQ:BRZE) Hits New 52-Week Low - Should You Sell?

Braze, Inc. (NASDAQ:BRZE - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $27.25 and last traded at $27.31, with a volume of 1512663 shares changing hands. The stock had previously closed at $28.48.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JMP Securities reiterated a "market outperform" rating and set a $68.00 price target on shares of Braze in a research report on Friday, June 6th. DA Davidson dropped their price target on Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group dropped their price target on Braze from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price target on shares of Braze in a research report on Friday, June 6th. Finally, Oppenheimer dropped their target price on Braze from $51.00 to $44.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.60.

Braze Stock Performance

The business has a 50 day simple moving average of $32.46 and a 200-day simple moving average of $37.63. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -23.96 and a beta of 1.22.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The firm had revenue of $162.06 million during the quarter, compared to the consensus estimate of $158.60 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS. Equities analysts predict that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the transaction, the director now directly owns 15,269 shares of the company's stock, valued at $633,052.74. The trade was a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 3,405 shares of Braze stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $122,171.40. Following the completion of the transaction, the chief accounting officer now directly owns 69,274 shares of the company's stock, valued at approximately $2,485,551.12. This represents a 4.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,150 shares of company stock valued at $2,540,814 in the last three months. 18.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Braze

Several hedge funds and other institutional investors have recently made changes to their positions in BRZE. Westfield Capital Management Co. LP purchased a new position in shares of Braze in the 1st quarter valued at about $54,644,000. ShawSpring Partners LLC purchased a new position in shares of Braze in the 4th quarter valued at about $62,837,000. Norges Bank purchased a new position in shares of Braze in the 4th quarter valued at about $62,639,000. Vanguard Group Inc. boosted its stake in shares of Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after buying an additional 1,476,423 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Braze in the 1st quarter valued at about $50,988,000. Hedge funds and other institutional investors own 90.47% of the company's stock.

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.