Braze’s Q1 results driven by strong execution, says DA Davidson

DA Davidson analyst Gil Luria keeps a Buy rating and $65 price target on Braze. The company’s Q1 results were driven by strong execution amid an uncertain macro environment, while the management also raised its top and bottom line guidance for the full year, the analyst tells investors in a research note. Braze’s high ROI offering continues to drive upsell momentum with existing clients and favorable new business trends, and while the macro is expected to remain a headwind through year-end, the company is well positioned to be a key technology partner, the firm added.