William Blair analyst Arjun Bhatia has maintained their bullish stance on BRZE stock, giving a Buy rating today.
Arjun Bhatia has given his Buy rating due to a combination of factors that highlight Braze’s strong market position and growth potential. The company reported a robust quarter, surpassing revenue expectations significantly, which marks the largest beat of the year. This performance is driven by customers increasingly seeking to modernize their marketing technology and consolidate solutions onto Braze’s platform for enhanced customer engagement.
Bhatia also notes that while there are challenges from renewing older contracts, the impact is diminishing as newer customer cohorts show stronger performance. Additionally, Braze’s acquisition of OfferFit is expected to bolster its AI capabilities, enhancing personalization and customer outcomes. This strategic move, along with a promising partnership with Shopify, positions Braze well for future growth, supporting the Buy rating.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $68.00 price target.