Braze price target lowered to $33 from $47 at Canaccord

Canaccord analyst David Hynes lowered the firm’s price target on Braze to $33 from $47 and keeps a Buy rating on the shares. The analyst said its headline numbers looked reasonably good, but when you dig a layer deeper, there are signs of continued softening, which isn’t terribly surprising given what’s happening in the marketing and customer engagement domain.