Braze (NASDAQ:BRZE) Shares Down 9.4% – What’s Next?

Braze, Inc. (NASDAQ:BRZE)’s share price was down 9.4% during mid-day trading on Wednesday . The stock traded as low as $22.10 and last traded at $22.0310. Approximately 1,831,518 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 3,103,048 shares. The stock had previously closed at $24.33.

Analyst Ratings Changes

Several equities research analysts have issued reports on BRZE shares. Canaccord Genuity Group reissued a “buy” rating and issued a $43.00 price objective on shares of Braze in a research report on Monday, March 23rd. Citigroup lowered their price objective on shares of Braze from $53.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. DA Davidson lowered their price objective on shares of Braze from $42.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 20th. Stifel Nicolaus lowered their price objective on shares of Braze from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, UBS Group lowered their price objective on shares of Braze from $43.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Twenty-two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Braze presently has an average rating of “Moderate Buy” and an average price target of $36.90.

Braze Trading Down 3.9%

The firm’s 50-day moving average price is $21.19 and its two-hundred day moving average price is $25.10. The stock has a market cap of $2.46 billion, a PE ratio of -17.80 and a beta of 0.78.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Braze had a negative return on equity of 18.75% and a negative net margin of 17.78%.The business had revenue of $205.17 million during the quarter, compared to analysts’ expectations of $198.23 million. During the same period in the previous year, the company posted $0.12 EPS. Braze’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, analysts anticipate that Braze, Inc. will post -0.87 earnings per share for the current year.

Insider Transactions at Braze

In related news, CEO William Magnuson sold 26,413 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $16.93, for a total transaction of $447,172.09. Following the completion of the transaction, the chief executive officer owned 4,491,098 shares in the company, valued at $76,034,289.14. The trade was a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jonathan Hyman sold 7,391 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total transaction of $125,129.63. Following the transaction, the chief technology officer owned 1,692,933 shares of the company’s stock, valued at approximately $28,661,355.69. This trade represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 95,676 shares of company stock worth $1,737,811. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Braze by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock worth $69,831,000 after acquiring an additional 139,133 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Braze by 5,412.5% during the 4th quarter. SG Americas Securities LLC now owns 289,790 shares of the company’s stock worth $9,937,000 after acquiring an additional 284,533 shares in the last quarter. Jefferies Financial Group Inc. raised its stake in shares of Braze by 412.2% during the 3rd quarter. Jefferies Financial Group Inc. now owns 99,761 shares of the company’s stock worth $2,837,000 after acquiring an additional 80,285 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Braze by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 9,851,050 shares of the company’s stock worth $337,793,000 after acquiring an additional 892,635 shares in the last quarter. Finally, Bullseye Asset Management LLC raised its stake in shares of Braze by 96.6% during the 4th quarter. Bullseye Asset Management LLC now owns 152,608 shares of the company’s stock worth $5,232,000 after acquiring an additional 75,000 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Company Profile

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.