Braze price target lowered to $62 from $68 at BTIG

BTIG lowered the firm’s price target on Braze to $62 from $68 and keeps a Buy rating on the shares ahead of its Q1 results next week. The firm anticipates ongoing macro pressure on the company’s topline results despite recent investments in headcount and other growth initiatives, the analyst tells investors in a research note. Braze management should also remain fairly conservative, likely only rolling forward the smaller beat into FY25 guidance, BTIG added.