Braze price target lowered to $45 from $50 at Barclays

Barclays analyst Ryan MacWilliams lowered the firm’s price target on Braze to $45 from $50 and keeps an Overweight rating on the shares. The analyst is "pleased" with Braze’s net new customer adds of 116 and billings growth in Q3. However, investors may have to adjust near-term growth expectations for the company as its revenue performance obligations faced headwinds, MacWilliams tells investors in a research note.