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

Braze, Inc. (NASDAQ:BRZE - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 5,910,000 shares, an increase of 42.8% from the March 15th total of 4,140,000 shares. Approximately 8.5% of the company's shares are sold short. Based on an average daily volume of 1,310,000 shares, the short-interest ratio is presently 4.5 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BRZE shares. Citigroup lifted their price target on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Canaccord Genuity Group lifted their price target on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Stifel Nicolaus set a $50.00 price target on Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Wells Fargo & Company dropped their price target on Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, DA Davidson lowered their target price on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Braze presently has a consensus rating of "Buy" and a consensus price target of $51.75.

Insider Activity at Braze

In other Braze news, General Counsel Susan Wiseman sold 10,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. Following the transaction, the general counsel now owns 189,520 shares in the company, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.30, for a total value of $61,950.00. Following the completion of the transaction, the director now owns 15,269 shares in the company, valued at approximately $630,609.70. The trade was a 8.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,937 shares of company stock worth $2,707,581 in the last 90 days. Corporate insiders own 24.03% of the company's stock.

Institutional Trading of Braze

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 405 shares during the period. GAMMA Investing LLC boosted its stake in shares of Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $27,000 after purchasing an additional 517 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in shares of Braze by 9,188.9% during the fourth 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 lifted its stake in Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after acquiring an additional 928 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Braze in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 90.47% of the company's stock.

Braze Stock Performance

BRZE traded up $1.04 during midday trading on Wednesday, hitting $28.97. The stock had a trading volume of 497,094 shares, compared to its average volume of 1,229,559. The company has a market cap of $3.03 billion, a P/E ratio of -25.41 and a beta of 1.13. The business has a fifty day moving average of $34.70 and a 200 day moving average of $37.61. Braze has a 1 year low of $27.45 and a 1 year high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million during 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%. Braze's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. On average, equities research analysts anticipate that Braze will post -0.98 earnings per share for the current year.

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.