Braze price target lowered to $50 from $55 at DA Davidson

DA Davidson lowered the firm’s price target on Braze (BRZE) to $50 from $55 but keeps a Buy rating on the shares. The company reported better than expected top and bottom line results, posting its second quarter of positive Non-GAAP net income as its management continues to balance margin expansion with revenue growth in the current demand environment, the analyst tells investors in a research note. The positive underlying trends stemming from the ongoing legacy replacement cycle and the competitive displacements this quarter supports Braze’s top line and dollar-based net revenue retention – DBNR – stabilization, the firm added.