Braze, Inc. (NASDAQ:BRZE) Short Interest Update

Braze, Inc. (NASDAQ:BRZE) was the recipient of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 4,690,000 shares, a decline of 7.7% from the July 31st total of 5,080,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is currently 4.3 days. Currently, 7.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of research reports. Oppenheimer reissued an “outperform” rating and issued a $60.00 price objective on shares of Braze in a report on Wednesday, June 12th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Braze in a report on Monday, June 17th. BTIG Research dropped their price objective on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 31st. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Friday, June 7th. Finally, TD Cowen dropped their price objective on shares of Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $60.50.

Insider Transactions at Braze

In other news, CFO Isabelle Winkles sold 4,500 shares of Braze 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 completion of the sale, the chief financial officer now directly owns 242,627 shares in the company, valued at $9,477,010.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Isabelle Winkles sold 4,500 shares of Braze 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 completion of the sale, the chief financial officer now directly owns 242,627 shares in the company, valued at $9,477,010.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 50,000 shares of Braze stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the completion of the sale, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The disclosure for this sale can be found here. Insiders sold 174,845 shares of company stock worth $7,506,929 over the last three months. 24.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Braze

Several large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new stake in Braze in the second quarter worth $10,166,000. Quarry LP bought a new stake in Braze in the second quarter worth $50,000. Creative Planning increased its position in Braze by 1.7% in the second quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after purchasing an additional 384 shares during the last quarter. Algert Global LLC bought a new stake in Braze in the second quarter worth $2,376,000. Finally, Mackenzie Financial Corp bought a new stake in Braze in the second quarter worth $971,000. Institutional investors own 90.47% of the company’s stock.

Braze Price Performance

Shares of BRZE stock traded down $0.16 during mid-day trading on Monday, hitting $44.78. The company had a trading volume of 1,145,400 shares, compared to its average volume of 921,805. Braze has a 52-week low of $33.93 and a 52-week high of $61.53. The stock’s 50 day moving average price is $40.64 and its 200-day moving average price is $43.37. The company has a market capitalization of $4.55 billion, a P/E ratio of -34.98 and a beta of 1.07.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.01. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. The firm had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. On average, equities research analysts expect that Braze will post -1.21 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.