Braze price target lowered to $68 from $75 at BTIG

BTIG analyst Matt VanVliet lowered the firm’s price target on Braze to $68 from $75 and keeps a Buy rating on the shares. The company’s Q4 results topped estimates despite the ongoing macro pressures and tighter spending controls across the enterprise space, and Braze also continues to win new business with larger clients and improve its standing as the premier product in the market, the analyst tells investors in a research note. The firm adds however that its price target cut serves to better reflect current industry valuations.