Braze gains as brokerages raise PT on improved revenue forecast
08/09/2023 11:58
** Shares of customer engagement platform Braze BRZE.O up
1.8% at $48.50 premarket
** At least seven brokerages raise PT between $52 and $65
** Brokerage Barclays raises PT to $65 from $50,
representing a 36% upside on stock's last close
** We view BRZE as a name to benefit from improving AI spend
as marketers potentially shift back to a growth focus in 2024 -
brokerage Barclays
** Co raises forecast for FY 2024 revenue to the range of
$451.5 mln to $454.5 mln from its prior forecast of $442.5 mln -
$446.5 mln
** Average rating of 18 analysts covering the stock is
"buy"; their median PT is $55 - LSEG
** Up to last close, stock up ~75% YTD
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))