Braze price target lowered to $65 from $72 at Citi

Citi lowered the firm’s price target on Braze to $65 from $72 and keeps a Buy rating on the shares. The company’s Q4 results featured a solid sales beat offset by weaker gross margins and a conservative outlook, the analyst tells investors in a research note. The firm says that while the shares have been under pressure post results, it remains optimistic on the long-term trajectory of Braze given the pace of innovation and multiple catalysts ahead which will continue to support stabilizing-to-reaccelerating growth.