Braze price target raised to $56 from $46 at JMP Securities

JMP Securities raised the firm’s price target on Braze to $56 from $46 and keeps an Outperform rating on the shares. The company reported better-than-expected Q2 results, the third such quarter in a row, and guidance was also solid, the analyst tells investors in a research note. While the macro remains challenging, JMP likes the stock for a number of reasons, including that the the company is disrupting a large and growing total addressable market opportunity, estimated at ~$16B in the U.S. alone.