Braze (NASDAQ:BRZE) Stock Price Down 5.4% – Should You Sell?

Braze, Inc. (NASDAQ:BRZE)’s stock price dropped 5.4% during mid-day trading on Friday . The stock traded as low as $27.80 and last traded at $28.73. Approximately 310,575 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,214,416 shares. The stock had previously closed at $30.38.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Braze in a research report on Friday, March 28th. DA Davidson reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Wednesday, March 26th. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Braze in a report on Friday, March 28th. Canaccord Genuity Group upped their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, Raymond James lifted their price objective on Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $53.00.

Braze Stock Performance

The stock has a market capitalization of $3.04 billion, a PE ratio of -25.46 and a beta of 1.13. The stock’s 50 day moving average is $36.60 and its two-hundred day moving average is $37.78.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same quarter last year, the business posted ($0.04) earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Equities research analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total value of $61,950.00. Following the completion of the sale, the director now owns 15,269 shares of the company’s stock, valued at approximately $630,609.70. This trade represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Susan Wiseman sold 4,167 shares of the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $30.98, for a total value of $129,093.66. Following the transaction, the general counsel now directly owns 248,999 shares in the company, valued at $7,713,989.02. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,437 shares of company stock valued at $2,772,276. Corporate insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of Braze by 6.3% in the first quarter. Rhumbline Advisers now owns 93,189 shares of the company’s stock valued at $3,362,000 after purchasing an additional 5,532 shares during the period. GAMMA Investing LLC grew its stake in shares of Braze by 12,025.6% in the 1st quarter. GAMMA Investing LLC now owns 26,555 shares of the company’s stock valued at $958,000 after buying an additional 26,336 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Braze in the 1st quarter valued at approximately $54,000. Wellington Management Group LLP acquired a new stake in shares of Braze during the 4th quarter worth approximately $50,000,000. Finally, California State Teachers Retirement System raised its position in shares of Braze by 4.7% during the 4th quarter. California State Teachers Retirement System now owns 58,125 shares of the company’s stock valued at $2,434,000 after buying an additional 2,605 shares during the period. Hedge funds and other institutional investors 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.