Braze price target raised to $65 from $53 at DA Davidson

DA Davidson raised the firm’s price target on Braze to $65 from $53 and keeps a Buy rating on the shares. The company reported another quarter of strong operating results which reinforces its thesis that Braze is a high quality franchise positioned to display resilient growth in a tough spending environment, the analyst tells investors in a research note. Q3 results were driven by continued new logo momentum and favorable upsell trends, the firm added.