Braze price target raised to $50 from $43 at BTIG

BTIG raised the firm’s price target on Braze to $50 from $43 and keeps a Buy rating on the shares ahead of its Q2 results. The firm’s recent checks were more positive than earlier in the year from a high-level IT spending perspective, anticipating second-half acceleration in Braze expectations, the analyst tells investors in a research note. BTIG adds that Braze performance remains “very steady”, and it views the clear ROI of the platform “gaining new budget”.