A Marketing Tech Stock Added WhatsApp. Now They Can't Be 'Copied' Analyst Says

Needham analyst Scott Berg maintained Braze Inc BRZE with a Buy and cut the price target from $70 to $50.
Berg attended Braze's annual customer conference, Forge and analyst day, where his primary takeaway was on product innovation that should continue to differentiate versus legacy marketing vendors.
He found the conference well attended, likely with over 500 customers and prospects and more online.
On the product side, the company's new Braze Data will simplify how brands leverage and activate data from external sources.
It will drive improved real-time usage of this customer data.
Adding Meta Platforms Inc META WhatsApp as a new channel feeds into his thesis on Braze building out a multi-channel customer engagement platform legacy marketing platforms technically will not be able to copy.
He also got a financial update that was essentially unchanged from prior LT expectations, but Braze provided additional framework details on how it reached its profitability goals.
The price target cut reflects broad compression in SaaS multiples.
Price Action: BRZE shares traded lower by 4.48% at $28.17 on the last check Friday.

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