Braze (NASDAQ:BRZE) Hits New 1-Year Low - What's Next?

Key Points

• Shares of Braze, Inc. (NASDAQ:BRZE) recently hit a new 52-week low of $25.14, down from a previous close of $26.19, with a volume of 370,380 shares traded.
• Research analysts have significantly revised their price targets for Braze, with Wells Fargo lowering theirs from $55.00 to $40.00, while Barclays cut theirs from $70.00 to $47.00, both maintaining an "overweight" rating.
• Braze reported a revenue increase of 19.6% year-over-year, reaching $162.06 million, along with an earnings per share (EPS) of $0.07, surpassing the consensus estimate of $0.05.

Shares of Braze, Inc. (NASDAQ:BRZE - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $25.14 and last traded at $25.33, with a volume of 370380 shares changing hands. The stock had previously closed at $26.19.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BRZE shares. Wells Fargo & Company decreased their price objective on shares of Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Barclays cut their price objective on Braze from $70.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Cantor Fitzgerald initiated coverage on Braze in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $45.00 target price on the stock. UBS Group lowered their price objective on Braze from $51.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Finally, Loop Capital dropped their price objective on shares of Braze from $75.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Braze currently has an average rating of "Moderate Buy" and a consensus target price of $45.50.

Braze Trading Down 3.3%

The firm has a 50 day moving average price of $28.72 and a two-hundred day moving average price of $33.61. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -25.08 and a beta of 1.10.

Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The business had revenue of $162.06 million for the quarter, compared to the consensus estimate of $158.60 million. During the same period last year, the business posted ($0.05) EPS. The company's revenue was up 19.6% on a year-over-year basis. As a group, research analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 5,143 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $184,530.84. Following the sale, the general counsel owned 243,856 shares of the company's stock, valued at $8,749,553.28. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Myles Kleeger sold 9,189 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $329,701.32. Following the transaction, the insider directly owned 159,693 shares of the company's stock, valued at approximately $5,729,784.84. The trade was a 5.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,270 shares of company stock valued at $2,749,255. Company insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BRZE. US Bancorp DE lifted its stake in Braze by 1.4% during the first quarter. US Bancorp DE now owns 21,314 shares of the company's stock valued at $769,000 after buying an additional 302 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Braze by 2.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock valued at $559,000 after acquiring an additional 316 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares in the last quarter. IFP Advisors Inc boosted its stake in Braze by 15.3% in the 1st quarter. IFP Advisors Inc now owns 3,386 shares of the company's stock worth $122,000 after purchasing an additional 449 shares during the period. Finally, GAMMA Investing LLC grew its position in Braze by 236.1% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $27,000 after purchasing an additional 517 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.