Short Interest in Braze, Inc. (NASDAQ:BRZE) Decreases By 9.9%

Braze, Inc. (NASDAQ:BRZE) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 4,020,000 shares, a decline of 9.9% from the October 15th total of 4,460,000 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 3.3 days. Currently, 5.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several analysts have issued reports on BRZE shares. Barclays dropped 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. Loop Capital reaffirmed a “buy” rating and set a $75.00 price objective on shares of Braze in a research report on Tuesday, September 24th. Oppenheimer reduced their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. UBS Group lowered their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.47.

Insider Buying and Selling at Braze

In related news, CFO Isabelle Winkles sold 10,000 shares of Braze stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.15, for a total value of $451,500.00. Following the completion of the sale, the chief financial officer now directly owns 216,208 shares in the company, valued at $9,761,791.20. The trade was a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the transaction, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,207 shares of company stock valued at $5,366,986 in the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BRZE. M&G Plc purchased a new position in Braze in the first quarter valued at $6,724,000. Point72 Asset Management L.P. acquired a new position in Braze in the 2nd quarter worth about $10,166,000. Vanguard Group Inc. grew its holdings in Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in shares of Braze in the first quarter valued at approximately $5,714,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Braze during the 2nd quarter worth approximately $971,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Trading Down 1.6 %

Braze stock opened at $34.51 on Tuesday. The business’s 50-day simple moving average is $32.79 and its two-hundred day simple moving average is $37.53. Braze has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. Braze’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, analysts expect that Braze will post -1.02 earnings per share for the current fiscal year.

Braze Company Profile

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.