Shifting Consumer Trends From Legacy Solutions To Modern Options Aid Braze, Bullish Analyst Sees Profitability Ahead
Portfolio Pulse from Nabaparna Bhattacharya
Braze, Inc. (NASDAQ:BRZE) reported better-than-expected Q1 FY24 results with a 31.3% Y/Y revenue growth to $101.8 million and an adjusted EPS loss of $(0.13). Needham analyst Scott Berg reiterated a Buy rating and set a price target of $50, citing strong additions across customer cohorts and shifting consumer trends towards modern solutions like Braze.
June 09, 2023 | 7:09 pm
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Braze beats Q1 FY24 expectations with strong revenue growth and adjusted EPS loss, leading to a Buy rating and $50 price target from Needham analyst.
Braze reported better-than-expected Q1 FY24 results, with strong revenue growth and a smaller adjusted EPS loss than anticipated. Needham analyst Scott Berg reiterated a Buy rating and set a price target of $50, indicating confidence in the company's performance and future prospects. This positive news is likely to have a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100