Braze price target lowered to $40 from $43 at Canaccord

Canaccord analyst David Hynes lowered the firm’s price target on Braze (BRZE) to $40 from $43 and keeps a Buy rating on the shares. The firm said Braze reported strong FQ4 results as organic revenue growth accelerated for the third consecutive quarter, LTM DBNR ticked up a point sequentially to 109% and management noted that intra-quarter trends are running ahead of that data point, the company delivered over 50% year-over-year growth in FQ4 bookings aided in part by timing of renewal cohorts, and initial guidance for F2027 calls for 20% growth and roughly 400 bps margin expansion, well ahead of the Street’s 16% growth estimate.