Braze initiated with an Overweight at Wells Fargo

Wells Fargo analyst Ryan MacWilliams initiated coverage of Braze (BRZE) with an Overweight rating and $40 price target Braze, which offers “infrastructure for customer engagement,” could have improving revenue growth with easing comps along with an AI-friendly consumption model, the analyst tell investors. The firm believes “more AI means more marketing campaigns and more Braze usage.”