Braze (NASDAQ:BRZE) Hits New 1-Year Low - Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Oppenheimer lowered their price objective on Braze from $51.00 to $44.00 and set an "outperform" rating on the stock in a research report on Friday, June 6th. Macquarie lowered their price target on shares of Braze from $40.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Stephens set a $41.00 price objective on shares of Braze and gave the stock an "overweight" rating in a report on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Braze in a research note on Friday, June 6th. Finally, Cantor Fitzgerald began coverage on shares of Braze in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $45.00 price target for the company. One research analyst has rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.60.

Braze Stock Up 0.5%

The firm has a market cap of $2.74 billion, a P/E ratio of -25.72 and a beta of 1.22. The firm has a fifty day moving average of $32.04 and a 200-day moving average of $37.15.

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

Insider Activity

In related news, insider Astha Malik sold 13,460 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 transaction of $482,944.80. Following the completion of the transaction, the insider now owns 258,395 shares in the company, valued at approximately $9,271,212.60. This represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at approximately $633,052.74. This represents a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,150 shares of company stock valued at $2,540,814 in the last quarter. Company insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On Braze

Several large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after buying an additional 405 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after acquiring an additional 517 shares during the period. Quarry LP increased its stake in shares of Braze by 296.0% during the 1st quarter. Quarry LP now owns 796 shares of the company's stock worth $29,000 after purchasing an additional 595 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after purchasing an additional 827 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Braze in the 1st quarter valued at about $36,000. Institutional investors and hedge funds 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.