Braze Analyst Likes The Stock For Long-Term Capital Appreciation

JMP analyst Patrick Walravens reiterated a Market Outperform on Braze, Inc BRZE and a $52 price target.
He re-rated ahead of attending its FORGE 2022 Customer Conference and Investor Day in New York City.
He continued to like Braze for long-term capital appreciation for several reasons.
The company disrupted a large and growing total addressable market opportunity, estimated at ~ $16 billion in the U.S. alone.
Braze has a highly differentiated offering built on a stream processing architecture, enabling customer-led growth strategies and optimizing timeliness rather than completeness.
The company posted 54% organic revenue growth despite the uncertain macroeconomic environment.
Walravens liked the thoughtful leadership of Braze CEO Bill Magnuson.
The company should benefit from IDFA and the deprecation of third-party cookies.
The analyst said the stock is very reasonably priced for its growth rate.
Walravens price target reflected a premium to the peer group median multiple, which he believes is likely due to Braze's strong growth, impressive leadership team, and significant market opportunity.
Price Action: BRZE shares traded lower by 3.36% at $31.09 on the last check Wednesday.