Braze's Strong Growth and Strategic Initiatives Justify Buy RatingFor the second consecutive quarter, BRZE has demonstrated that its accelerating growth trajectory is not only sustainable but gaining strength. 3QF26 revs growth was modestly higher than 21.9% the real standout was the 4QF26 guidance raise—now at 23% Y/Y (up from 20% Y/Y), which, assuming a typical ~3% beat, implies a potential organic revs growth acceleration to ~24% Y/Y. This optimism is further supported by the slight uptick in in-period NRR, record new logo adds (largest increase since FY23) and first acceleration in MAU growth in 7 quarters. Collectively, this reinforces our comfort in durable 20%-plus growth.