William Blair analyst Arjun Bhatia has reiterated their bullish stance on BRZE stock, giving a Buy rating today.
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Arjun Bhatia has given his Buy rating due to a combination of factors that highlight Braze’s strong performance and growth potential. The company reported a robust quarter, surpassing revenue expectations by a significant margin, which was driven by stable demand across various sectors and improved operational execution. This positive momentum is further supported by a stabilization in net revenue retention (NRR) and a reduction in downsell activities, indicating a healthier customer base and improved renewal rates.
Additionally, Braze’s strategic focus on helping clients modernize their marketing technology and consolidate solutions onto its platform has gained traction, positioning it well against competitors. The company’s decision to raise its full-year guidance reflects confidence in its ongoing growth trajectory. With the stock trading at a discount compared to its growth peers, Bhatia sees substantial upside potential, reinforcing his positive outlook on Braze’s ability to capture market share from less innovative legacy players.
In another report released today, Barclays also maintained a Buy rating on the stock with a $39.00 price target.