Braze price target raised to $75 from $60 at BTIG

BTIG analyst Matthew VanVliet raised the firm’s price target on Braze (BRZE) to $75 from $60 and keeps a Buy rating on the shares after its Q3 earnings beat and FY24 guidance raise. The firm expects continued strong growth momentum with RPO up 37% y/y and notes more positive commentary coming from the management despite the macro environment remaining muted amid elevated deal scrutiny, the analyst tells investors in a research note. All of Braze announcements were a sign of a company firing on all cylinders headed into the end of the calendar year with potential to maintain its elevated growth through an expanded partnership with Amazon’s (AMZN) AWS, BTIG added.