Braze (NASDAQ:BRZE) Hits New 52-Week Low - What's Next?

Shares of Braze, Inc. (NASDAQ:BRZE - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $27.50 and last traded at $27.55, with a volume of 211412 shares trading hands. The stock had previously closed at $29.21.

Wall Street Analysts Forecast Growth

BRZE has been the topic of several analyst reports. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the stock a "buy" rating in a research note on Friday, March 28th. Wells Fargo & Company decreased their price target on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday. DA Davidson cut their price objective on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Canaccord Genuity Group increased their target price on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of Braze in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $51.25.

Braze Stock Performance

The company has a market capitalization of $3.27 billion, a P/E ratio of -27.39 and a beta of 1.13. The business has a fifty day moving average of $34.00 and a 200-day moving average of $37.61.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million during the quarter, compared to analysts' expectations of $155.72 million. During the same period last year, the company earned ($0.04) earnings per share. The business's revenue was up 22.4% on a year-over-year basis. Sell-side analysts anticipate that Braze, Inc. will post -0.98 EPS for the current year.

Insider Activity

In other news, CEO William Magnuson sold 18,050 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the transaction, the chief executive officer now directly owns 564,766 shares of the company's stock, valued at $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. Following the sale, the general counsel now owns 189,520 shares in the company, valued at $8,949,134.40. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,937 shares of company stock worth $2,707,581 over the last 90 days. 24.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Braze

Several large investors have recently made changes to their positions in BRZE. Proficio Capital Partners LLC bought a new stake in Braze in the fourth quarter worth about $498,000. JPMorgan Chase & Co. lifted its stake in Braze by 146.9% in the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock valued at $58,489,000 after purchasing an additional 1,075,998 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in Braze in the fourth quarter worth $708,000. Barclays PLC raised its stake in shares of Braze by 148.1% in the third quarter. Barclays PLC now owns 107,358 shares of the company's stock valued at $3,472,000 after buying an additional 64,093 shares during the period. Finally, Pictet Asset Management Holding SA lifted its position in shares of Braze by 27.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock valued at $374,000 after buying an additional 1,938 shares during the last quarter. 90.47% of the stock is owned by hedge funds and other 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.