Wall Street

Is This A Buyable Bottom For Braze, Inc Shares?

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ValueWalk

Braze Beats And Raises Guidance But Analysts Lower Their TargetsBraze Inc’s (NASDAQ:BRZE) Q1 results are another indication a bottom may be forming for cloud stocks. The caveat is that while a bottom may be forming, we are still not counting on a major rebound for the sector and are hesitant to commit new capital. Braze, Inc beat and raised but the Q2 and FY guidance is only in-line with the Marketbeat.com consensus estimates which is no catalyst for a rally. The more likely scenario is a relief rally is in play, one aided by a relatively high 6.5% short interest, and we think it will lose ste…

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