Braze Inc (BRZE) PT Lowered to $25 at BTIG

BTIG analyst Matt VanVliet lowered the price target on Braze Inc (NASDAQ: BRZE) to $25.00 (from $45.00) while maintaining a Buy rating.

The analyst comments "We remain constructive on shares heading into 4Q earnings and see a relatively low-bar given the muted share performance (-41% YTD vs. -17% IGV) despite improving underlying fundamentals (w/ potential for another qtr of organic growth reaccel) and an increasingly attractive AI story. We caught up with one partner who cited a strong finish to CY25, with accelerating momentum in 1Q, giving us confidence in GTM improvements continuing to drive better & more efficient bookings activity and momentum continuing into CY26 w/ a sizable 1Q renewal base. We lowered our GM/gross profit estimates to more accurately account for seasonal dynamics but keep our revenue growth & OM estimates intact. Lastly, we lower our PT to $25 given the broader pull-back in software but see shares as highly attractive at ~16x EV/CY27E FCF."

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