Braze (NASDAQ:BRZE) Stock Price Down 6.4% – Should You Sell?

Shares of Braze, Inc. (NASDAQ:BRZE) fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $18.45 and last traded at $18.7330. 516,644 shares changed hands during trading, a decline of 83% from the average session volume of 3,064,169 shares. The stock had previously closed at $20.01.

Analyst Ratings Changes

A number of research analysts have issued reports on BRZE shares. Wells Fargo & Company lifted their price objective on Braze from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price target on shares of Braze in a report on Wednesday, December 10th. BTIG Research began coverage on shares of Braze in a research note on Tuesday, December 16th. They issued a “buy” rating and a $45.00 price target on the stock. Citigroup increased their price objective on shares of Braze from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Finally, Mizuho raised their price objective on shares of Braze from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.30.

Braze Stock Performance

The company’s 50-day moving average price is $22.84 and its 200 day moving average price is $27.23. The stock has a market cap of $2.12 billion, a PE ratio of -17.24 and a beta of 1.08.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Tuesday, December 9th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $190.84 million during the quarter, compared to analyst estimates of $198.25 million. Braze had a negative return on equity of 17.87% and a negative net margin of 16.85%.Braze’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 earnings per share. On average, sell-side analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In related news, insider Astha Malik sold 14,049 shares of Braze 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 $237,849.57. Following the sale, the insider owned 205,289 shares of the company’s stock, valued at approximately $3,475,542.77. This trade represents a 6.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jonathan Hyman sold 7,391 shares of the business’s stock in a transaction 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 completion of the transaction, the chief technology officer directly owned 1,692,933 shares in the company, valued at $28,661,355.69. This trade represents a 0.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 66,216 shares of company stock valued at $1,225,772. 18.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Braze

Large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new stake in Braze in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Braze by 3,650.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the company’s stock worth $28,000 after acquiring an additional 803 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Braze by 173.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,372 shares of the company’s stock valued at $39,000 after acquiring an additional 870 shares during the period. Kemnay Advisory Services Inc. bought a new position in Braze in the 4th quarter valued at $52,000. Finally, Osaic Holdings Inc. increased its stake in Braze by 821.1% in the second quarter. Osaic Holdings Inc. now owns 1,575 shares of the company’s stock worth $44,000 after purchasing an additional 1,404 shares during the period. 90.47% of the stock is owned by institutional investors.

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.