These Analysts Revise Their Forecasts On Braze After Q1 Results
Portfolio Pulse from Avi Kapoor
Braze, Inc. (NASDAQ:BRZE) reported better-than-expected Q1 earnings, with revenue of $135.459 million and an adjusted loss of 5 cents per share, both beating estimates. The company also raised its Q2 and full-year revenue guidance. Analysts revised their price targets, with Piper Sandler cutting to $55, Canaccord Genuity increasing to $53, and Needham maintaining at $70.
June 07, 2024 | 1:21 pm
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Braze, Inc. reported better-than-expected Q1 earnings and raised its Q2 and full-year revenue guidance. Analysts revised their price targets, with Piper Sandler cutting to $55, Canaccord Genuity increasing to $53, and Needham maintaining at $70.
Braze's better-than-expected Q1 earnings and raised guidance are positive indicators for the stock. The revisions in price targets by analysts, despite some being lowered, reflect a generally positive outlook. The stock's 2% gain post-announcement further supports a likely short-term positive impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100