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

Braze, Inc. (NASDAQ:BRZE) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,240,000 shares, a decrease of 19.4% from the October 31st total of 4,020,000 shares. Based on an average daily volume of 1,320,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 4.7% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Barclays cut their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Stifel Nicolaus initiated coverage on Braze in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 price objective on the stock. Piper Sandler dropped their target price on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price target on shares of Braze in a research report on Tuesday, September 24th. Finally, Macquarie began coverage on shares of Braze in a research report on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.95.

Insiders Place Their Bets

In related news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $43.41, for a total transaction of $195,345.00. Following the transaction, the chief financial officer now directly owns 216,208 shares in the company, valued at approximately $9,385,589.28. This represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,479 shares of company stock valued at $4,414,911 in the last quarter. 24.03% of the stock is currently owned by company insiders.

Institutional Trading of Braze

Institutional investors have recently modified their holdings of the company. Comerica Bank grew its holdings in Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares during the period. Blair William & Co. IL boosted its position in shares of Braze by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after purchasing an additional 283 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after purchasing an additional 290 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares in the last quarter. Finally, Creative Planning lifted its stake in Braze by 1.7% during the second quarter. Creative Planning now owns 23,121 shares of the company’s stock valued at $898,000 after purchasing an additional 384 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Stock Performance

Shares of BRZE stock traded up $0.90 during midday trading on Friday, reaching $39.72. 589,472 shares of the company were exchanged, compared to its average volume of 1,214,127. The company’s 50 day moving average price is $33.34 and its two-hundred day moving average price is $37.34. The company has a market cap of $4.08 billion, a P/E ratio of -33.66 and a beta of 1.03. Braze has a 12 month low of $29.18 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. The firm had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) earnings per share. As a group, sell-side analysts predict that Braze will post -1.02 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.