Braze (NASDAQ:BRZE) Sets New 12-Month Low on Analyst Downgrade

Braze, Inc. (NASDAQ:BRZE) hit a new 52-week low on Tuesday after UBS Group lowered their price target on the stock from $56.00 to $51.00. UBS Group currently has a buy rating on the stock. Braze traded as low as $32.24 and last traded at $32.27, with a volume of 212670 shares changing hands. The stock had previously closed at $34.63.

A number of other research analysts have also weighed in on the stock. BTIG Research dropped their price target on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Canaccord Genuity Group lifted their price objective on Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday. Finally, Raymond James cut their price objective on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. Eighteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze has a consensus rating of “Buy” and a consensus target price of $59.18.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 3,447 shares of Braze stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the sale, the general counsel now owns 206,930 shares in the company, valued at $9,104,920. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the sale, the general counsel now owns 206,930 shares in the company, valued at $9,104,920. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $39.06, for a total value of $175,770.00. Following the transaction, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The disclosure for this sale can be found here. Insiders have sold 188,727 shares of company stock valued at $8,140,693 over the last ninety days. 24.03% of the stock is owned by insiders.

Institutional Trading of Braze

Several institutional investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. increased its position in shares of Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after purchasing an additional 1,287,500 shares during the last quarter. Norges Bank purchased a new position in Braze during the 4th quarter valued at approximately $37,584,000. Vanguard Group Inc. increased its position in Braze by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after purchasing an additional 480,179 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in Braze during the second quarter valued at $12,925,000. Finally, Point72 Asset Management L.P. bought a new position in Braze during the second quarter valued at $10,166,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Trading Down 0.9 %

The business’s 50 day simple moving average is $40.02 and its 200 day simple moving average is $41.01. The firm has a market capitalization of $3.29 billion, a PE ratio of -25.28 and a beta of 1.07.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) earnings per share. Analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current year.

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.