Citi opens ‘positive catalyst watch’ on Braze into investor event

Citi analyst Tyler Radke opened a “30-day positive positive catalyst watch” on shares of Braze while keeping a Buy rating on the shares with a $59 price target. Braze continues to meet the needs of brands wanting more sophistication and control over customer engagement, the analyst tells investors in a research note. The firm sees near-term upside to the shares heading into Braze’s investor event on September 23. It believes the event will provide incremental clarity around Braze’s margin trajectory and path to reaching $1B annual recurring revenue, which could be a catalyst for investors who’ve waited on the sidelines.