Braze Analysts Increase Their Forecasts After Q2 Results

Braze, Inc. BRZE reported better-than-expected second-quarter results.

Braze posted a quarterly loss of 4 cents per share, compared to market expectations for a loss of 14 cents per share. The company’s quarterly sales came in at $115.11 million versus estimates of $108.63 million.

The company said it sees FY24 loss of 37 cents to 39 cents per share and revenue of $451.5 million to $454.5 million.

Braze shares gained 2% to $48.60 in pre-market trading.

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

• Piper Sandler raised the price target on Braze from $45 to $57. Piper Sandler analyst Brent Bracelin maintained an Overweight rating.
• Needham increased the price target on Braze from $50 to $60. Needham analyst Scott Berg maintained a Buy rating.
• Raymond James boosted the price target on Braze from $44 to $52. Raymond James analyst Brian Peterson maintained an Outperform rating.

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