Analyst Scott Berg from Needham maintained a Buy rating on Braze and keeping the price target at $50.00.
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Scott Berg has given his Buy rating due to a combination of factors, primarily focusing on Braze’s recent strategic advancements. The company has introduced a new SDK that enhances integration with ChatGPT applications, which is expected to significantly improve customer engagement for brands using this technology.
This development positions Braze uniquely in the market, allowing it to capture first-party data on emerging channels more effectively than traditional marketing solutions. The ability to quickly adapt to new technological advancements gives Braze a competitive edge, making it a promising investment opportunity.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BRZE in relation to earlier this year.