Needham Reiterates Buy Rating on Braze Inc (BRZE)
Needham analyst Scott Berg reiterated a Buy rating and $70.00 price target on Braze Inc (NASDAQ: BRZE).
The analyst comments "We reiterate our Buy rating on BRZE shares after the company reported very good 1QF25 financial results, including its subscription revenue growth rate accelerating over both 3Q and 4QFY24. A highlight of the quarter was demand for personalized customer engagement platforms, which we saw as a relatively bright spot against a tough backdrop of marketing software demand. cRPO growth was healthy at 29.1% and the company added 10 customers with ARR greater than $500k, which was above recent seasonal trends. 2H guidance was cautious as the company evaluates demand on an almost quarter by quarter basis, creating what we believe is a good 2H setup. Profitability improved (Op margin up 830bps Y/Y) with Non-GAAP profitability set for 4Q even as the company invests heavily over the near-term."
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Shares of Braze Inc closed at $36.78 yesterday.