Braze Analysts Riase Their Forecasts After Strong Q1 Results

Braze, Inc. BRZE posted upbeat first-quarter results and issued strong forecast.

Braze posted a quarterly loss of 13 cents per share, versus market estimates for a loss of 18 cents per share. The company’s sales came in at $101.78 million, beating expectations of $100.44 million.

Braze said it sees Q2 loss of 13 cents to 14 cents per share on revenue of $108 million to 109 million.

Braze shares jumped 22% to trade at $41.42 on Friday.

These analysts made changes to their price targets on Braze following earnings announcement.

• Piper Sandler raised the price target on Braze from $40 to $43. Piper Sandler analyst Brent Bracelin maintained an Overweight rating.
• UBS increased the price target on Braze from $35 to $38. UBS analyst Taylor McGinnis maintained a Neutral rating.
• Wells Fargo raised Braze price target from $37 to $43. Wells Fargo analyst Michael Linenberg maintained an Overweight rating.