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

Braze, Inc. (NASDAQ:BRZE - Get Free Report) shares reached a new 52-week low during trading on Friday . The stock traded as low as $25.72 and last traded at $25.85, with a volume of 711085 shares. The stock had previously closed at $26.82.

Analyst Ratings Changes

A number of research analysts recently weighed in on BRZE shares. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the company a "buy" rating in a research note on Friday, March 28th. JMP Securities reiterated a "market outperform" rating and issued a $68.00 price target on shares of Braze in a research report on Friday, June 6th. Macquarie dropped their price objective on Braze from $40.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Wells Fargo & Company cut their target price on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Stephens set a $41.00 target price on Braze and gave the company an "overweight" rating in a report on Friday, June 6th. One analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.60.

Braze Price Performance

The company has a 50 day simple moving average of $32.10 and a 200-day simple moving average of $37.31. The firm has a market cap of $2.68 billion, a PE ratio of -25.14 and a beta of 1.22.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The company had revenue of $162.06 million during the quarter, compared to analysts' expectations of $158.60 million. Braze had a negative net margin of 16.76% and a negative return on equity of 18.89%. The firm's revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, sell-side analysts predict that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity

In other news, CEO William Magnuson sold 25,089 shares of the 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 $900,193.32. Following the completion of the sale, the chief executive officer now owns 745,769 shares of the company's stock, valued at approximately $26,758,191.72. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the firm'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 $122,171.40. Following the completion of the transaction, the chief accounting officer now owns 69,274 shares in the company, valued at $2,485,551.12. This represents a 4.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,150 shares of company stock valued at $2,540,814. 18.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Braze

Hedge funds have recently modified their holdings of the company. Westfield Capital Management Co. LP bought a new stake in shares of Braze in the first quarter worth about $54,644,000. ShawSpring Partners LLC bought a new stake in shares of Braze during the 4th quarter valued at about $62,837,000. Norges Bank bought a new stake in shares of Braze during the 4th quarter valued at about $62,639,000. Vanguard Group Inc. increased its position in shares of Braze by 21.1% during the fourth 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. bought a new position in Braze in the first quarter worth about $50,988,000. Hedge funds and other institutional investors own 90.47% of the company's stock.

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.

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