Braze Inc (BRZE) Expected to Report Upside to Estimates - Needham & Company

Needham & Company analyst Scott Berg reiterated a Buy rating and $70.00 price target on Braze Inc (NASDAQ: BRZE) ahead of 2QF23 financial results today after market close.

The analyst commented, "We expect the company to report upside to estimates as our 2QC22 industry work (including two marketing conferences) highlighted strong customer demand and positive partner commentary for Braze solutions. Braze faces a 14pt more difficult billings comp (at 78.3%) than in 1QF23 so we would not be surprised if 2QF23 billings decelerated from the 67.8% reported in 1QF23. Our current billings estimate calls for $91.0mm or 37.8% Y/Y growth. Like most companies in our universe, we are expecting commentary on lengthening sales cycles within Europe accompanied by some added conservatism to 2HF23 guidance due to macro uncertainties."

For an analyst ratings summary and ratings history on Braze Inc click here. For more ratings news on Braze Inc click here.

Shares of Braze Inc closed at $43.34 yesterday.

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
• Piper Sandler Reiterates Overweight Rating on KKR (KKR), 'highest conviction name'