Braze (NASDAQ:BRZE) Reaches New 52-Week Low After Analyst Downgrade

Braze, Inc. (NASDAQ:BRZE)’s share price reached 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 traded. The stock had previously closed at $34.63.

Other equities research analysts have also issued reports about the company. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. Loop Capital reissued a “buy” rating and set a $75.00 target price on shares of Braze in a research note on Tuesday. JMP Securities restated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Tuesday. Raymond James decreased their price objective on shares of Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. Finally, Oppenheimer lowered their price objective on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze presently has an average rating of “Buy” and a consensus price target of $59.18.

Insider Transactions at Braze

In related news, CAO Pankaj Malik sold 2,262 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $38.14, for a total transaction of $86,272.68. Following the completion of the sale, the chief accounting officer now owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Braze news, CEO William Magnuson sold 17,840 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $738,040.80. Following the completion of the sale, the chief executive officer now owns 600,749 shares of the company’s stock, valued at $24,852,986.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Pankaj Malik sold 2,262 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $38.14, for a total transaction of $86,272.68. Following the transaction, the chief accounting officer now owns 74,361 shares in the company, valued at approximately $2,836,128.54. The disclosure for this sale can be found here. Insiders have sold a total of 188,727 shares of company stock valued at $8,140,693 in the last 90 days. Insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. 1832 Asset Management L.P. raised its position in Braze by 537.4% during the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after buying an additional 1,287,500 shares during the last quarter. Norges Bank acquired a new stake in shares of Braze in the fourth quarter worth $37,584,000. Vanguard Group Inc. raised its holdings in shares of Braze by 9.1% during 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 acquired a new position in Braze during the second quarter valued at $12,925,000. Finally, Point72 Asset Management L.P. purchased a new stake in Braze in 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 firm has a 50-day simple moving average of $40.02 and a two-hundred day simple moving average of $41.01. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -25.28 and a beta of 1.07.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results 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 company had revenue of $145.50 million during 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%. Braze’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) earnings per share. Equities research analysts anticipate that Braze, Inc. will post -1.02 EPS 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.