Braze, Inc. (NASDAQ:BRZE) Short Interest Down 24.4% in April

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

Analyst Ratings Changes

A number of research analysts have recently commented on BRZE shares. Raymond James upped their price target on Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the company a "buy" rating in a report on Friday, March 28th. Stephens started coverage on shares of Braze in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of Braze in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $51.25.

Braze Price Performance

Shares of BRZE stock traded down $0.18 during trading hours on Tuesday, hitting $31.53. 80,757 shares of the company's stock were exchanged, compared to its average volume of 1,234,891. Braze has a 52 week low of $27.45 and a 52 week high of $48.33. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -27.75 and a beta of 1.15. The stock's 50-day moving average is $33.11 and its 200-day moving average is $37.69.

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

Insider Activity at Braze

In other news, CAO Pankaj Malik sold 2,585 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $105,519.70. Following the transaction, the chief accounting officer now owns 52,199 shares of the company's stock, valued at $2,130,763.18. This trade represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Magnuson sold 18,050 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the transaction, the chief executive officer now owns 564,766 shares in the company, valued at $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,937 shares of company stock valued at $2,235,381. Corporate insiders own 24.03% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings in Braze by 168.0% in 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 during the period. GAMMA Investing LLC raised its position in shares of Braze by 236.1% during 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 during the last quarter. Aster Capital Management DIFC Ltd lifted its stake 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 purchasing an additional 827 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Braze by 8,436.4% during the fourth 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. bought a new stake in Braze in the fourth quarter valued at about $47,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.