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

Braze, Inc. (NASDAQ:BRZE - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 4,470,000 shares, a decline of 24.4% from the March 31st total of 5,910,000 shares. Approximately 6.5% of the company's shares are short sold. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is presently 3.3 days.

Braze Stock Performance

NASDAQ BRZE traded up $1.08 on Friday, reaching $32.41. The company's stock had a trading volume of 761,635 shares, compared to its average volume of 1,238,664. Braze has a twelve month low of $27.45 and a twelve month high of $48.33. The firm's 50 day moving average is $33.22 and its two-hundred day moving average is $37.63. The stock has a market cap of $3.39 billion, a PE ratio of -28.43 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The firm had revenue of $160.40 million during the quarter, compared to analysts' expectations of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. Equities research analysts anticipate that Braze will post -0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BRZE. Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Braze in a report on Friday, March 28th. Citigroup boosted their price objective on Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, March 28th. DA Davidson lowered their price objective on Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus set a $50.00 target price on Braze and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Piper Sandler lowered their price target on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Braze currently has an average rating of "Buy" and a consensus target price of $51.25.

Insider Activity

In other news, Director Phillip M. Fernandez sold 1,500 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.30, for a total transaction of $61,950.00. Following the transaction, the director now directly owns 15,269 shares of the company's stock, valued at approximately $630,609.70. The trade was a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Myles Kleeger sold 7,149 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $291,822.18. Following the completion of the transaction, the insider now owns 177,247 shares in the company, valued at $7,235,222.54. This represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,937 shares of company stock valued at $2,235,381 in the last three months. Corporate insiders own 24.03% of the company's stock.

Institutional Investors Weigh In On Braze

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after buying an additional 405 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Braze by 236.1% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after acquiring an additional 517 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after acquiring an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after purchasing an additional 928 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Braze during the 4th quarter worth approximately $47,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

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.