Braze reported clean quarter with strong fundamentals, says DA Davidson

DA Davidson analyst Gil Luria keeps a Buy rating and $65 price target on Braze after the company reported a “clean” quarter that topped the firm’s estimates along with strong underlying fundamentals that support its above-consensus revenue estimate for FY25. The management’s conservative top line guide also presents a “low hurdle” to surpass given Braze’s expansion momentum at the enterprise level, incremental sales capacity being added globally, and above-30% 30% cRPO growth this quarter, the analyst tells investors in a research note.