Short Interest in Braze, Inc. (NASDAQ:BRZE) Increases By 5.6%

Braze, Inc. (NASDAQ:BRZE) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 4,700,000 shares, an increase of 5.6% from the May 31st total of 4,450,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is currently 4.2 days. Currently, 7.3% of the shares of the stock are sold short.

Braze Stock Performance

Shares of Braze stock opened at $39.54 on Thursday. The firm has a market cap of $4.02 billion, a PE ratio of -30.89 and a beta of 1.06. The business’s 50 day simple moving average is $39.23 and its 200 day simple moving average is $47.20. Braze has a 52-week low of $33.93 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. As a group, equities research analysts predict that Braze will post -1.21 EPS for the current year.

Insider Buying and Selling

In other Braze news, CFO Isabelle Winkles sold 8,383 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $42.80, for a total value of $358,792.40. Following the completion of the transaction, the chief financial officer now directly owns 278,681 shares of the company’s stock, valued at $11,927,546.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Isabelle Winkles sold 8,383 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $42.80, for a total transaction of $358,792.40. Following the completion of the sale, the chief financial officer now owns 278,681 shares in the company, valued at $11,927,546.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Fernando Machado sold 2,361 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the transaction, the director now owns 6,101 shares in the company, valued at approximately $259,048.46. The disclosure for this sale can be found here. Insiders have sold a total of 74,894 shares of company stock worth $3,119,266 in the last 90 days. Corporate insiders own 24.03% of the company’s stock.

Hedge Funds Weigh In On Braze

Large investors have recently modified their holdings of the business. HighTower Advisors LLC boosted its position in Braze by 6.6% during the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock valued at $256,000 after purchasing an additional 335 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Braze by 40.7% in the 3rd quarter. Northern Trust Corp now owns 481,835 shares of the company’s stock valued at $22,516,000 after buying an additional 139,416 shares during the last quarter. Lido Advisors LLC acquired a new stake in Braze in the third quarter valued at about $327,000. Seven Eight Capital LP bought a new position in Braze in the third quarter valued at about $283,000. Finally, Penserra Capital Management LLC grew its position in Braze by 375.8% in the third quarter. Penserra Capital Management LLC now owns 55,982 shares of the company’s stock valued at $2,616,000 after acquiring an additional 44,217 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BRZE shares. Canaccord Genuity Group raised their price objective on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. dropped their price objective on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. TD Cowen reduced their target price on Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, May 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 price target on shares of Braze in a research note on Friday, June 7th. Finally, Scotiabank reduced their price objective on shares of Braze from $58.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, June 3rd. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.88.

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.