Needham Reiterates Buy Rating on Braze Inc (BRZE)

Needham analyst Scott Berg reiterated a Buy rating and $50.00 price target on Braze Inc (NASDAQ: BRZE).

The analyst commented: "We reiterate Braze as our top pick after it reported what we believe was largely its best results in roughly three years led by organic revenue Y/Y growth accelerating for the 2nd consecutive quarter to 22.3%. Mgmt's recent commentary on strengthening demand trends and sales productivity improvements was readily apparent in total quarterly customer additions that were its best quarter since 3Q23 and for $500K+ customers its best since 1Q23. This has all led to the Braze's strongest 4Q guidance increase since its IPO with typical 4Q upside suggesting Braze's revenue growth rate will accelerate again in 4Q. In quarter, NRR continues to work higher, firmly putting recent downsell trends well within the review mirror and further supporting our growth view. Initial FY27 profitability guidance should also sooth concerns on model profitability."

For an analyst ratings summary and ratings history on Braze Inc click here. For more ratings news on Braze Inc click here.

Shares of Braze Inc closed at $30.65 yesterday.

You May Also Be Interested In

• Uber nears EUR12.5B deal to acquire Delivery Hero - FT
• Hyperion DeFi strikes deal with Skew to launch futures markets
• Palo Alto Networks (PANW) PT Raised to $430 at Tigress Financial Partners