Braze price target lowered to $55 from $65 at Raymond James

Raymond James lowered the firm’s price target on Braze to $55 from $65 and keeps an Outperform rating on the shares. Braze’s Q1 earnings report fared much better than expected in a difficult front-end software landscape, with an impressive beat and raise, the analyst tells investors in a research note. The firm likes the risk-reward given one of the soundest durable growth narratives in its coverage and consistent execution in a tough macro.