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

Braze, Inc. (NASDAQ:BRZEGet Rating) saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,920,000 shares, a decrease of 19.3% from the June 30th total of 2,380,000 shares. Based on an average daily trading volume, of 762,300 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BRZE. Barclays cut their price target on shares of Braze from $75.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, June 15th. Loop Capital lowered their price objective on Braze from $75.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, June 15th. JPMorgan Chase & Co. reduced their target price on Braze from $65.00 to $42.00 in a report on Tuesday, June 14th. The Goldman Sachs Group lowered their price target on Braze from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, June 15th. Finally, UBS Group assumed coverage on shares of Braze in a report on Tuesday, July 12th. They set a “buy” rating and a $53.00 price objective for the company. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $52.80.

Insiders Place Their Bets

In other news, CTO Jonathan Hyman sold 5,000 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $42.53, for a total value of $212,650.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Myles Kleeger sold 10,897 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $46.09, for a total value of $502,242.73. Following the completion of the sale, the insider now owns 80,000 shares of the company’s stock, valued at approximately $3,687,200. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Jonathan Hyman sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $42.53, for a total value of $212,650.00. The disclosure for this sale can be found here. Insiders sold a total of 173,294 shares of company stock worth $6,661,438 in the last quarter. 32.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Braze

A number of hedge funds have recently modified their holdings of BRZE. Russell Investments Group Ltd. acquired a new stake in Braze in the 2nd quarter valued at $768,000. Hamilton Lane Advisors LLC bought a new position in shares of Braze during the second quarter valued at $283,000. JSF Financial LLC acquired a new stake in shares of Braze in the 2nd quarter valued at $1,436,000. Bank of America Corp DE grew its holdings in shares of Braze by 50,225.0% in the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock worth $83,000 after purchasing an additional 2,009 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC increased its position in shares of Braze by 85.2% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 50,000 shares of the company’s stock worth $2,074,000 after purchasing an additional 23,000 shares in the last quarter. 23.64% of the stock is owned by institutional investors and hedge funds.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $44.60 on Wednesday. Braze has a one year low of $27.09 and a one year high of $98.78. The business has a fifty day simple moving average of $38.35 and a 200 day simple moving average of $41.71.

Braze (NASDAQ:BRZEGet Rating) last issued its earnings results on Monday, June 13th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.07. The business had revenue of $77.50 million for the quarter, compared to analyst estimates of $72.50 million. Analysts predict that Braze will post -1.5 earnings per share for the current year.

About Braze

(Get Rating)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.

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