- Needham offered its take on three software & services companies.
- Needham analyst Scott Berg previewed Braze, Inc's BRZE 1Q23 financial results.
- Berg believes general marketing software demand trends remain positive, and recent Braze-specific work suggests the company should report solid sales metrics.
- Recent industry commentary, including at a marketing conference last week, highlights how customers gravitate quickly towards multi-channel marketing solutions to meet consumers better where they shop.
- Berg modeled 39% y/y billings growth, vs. 58.7% in 4Q, which he believes BRZE can easily outperform.
- He believes investors remain focused on BRZE's ability to sustain a high growth level against a macro backdrop, becoming more cautious.
- Last week, Needham analyst Mayank Tandon hosted Jason Peterson, EPAM Systems, Inc EPAM CFO, for a virtual NDR.
- Tandon believes EPAM executed well on its business continuity plans. It successfully relocated a significant portion of its employee base out of Russia/Ukraine/Belarus while continuing to provide high-impact digital transformation services to its global client base by ramping hiring efforts in other regions.
- In addition, management reiterated that the demand environment remains robust, with no signs of slowing across any of its verticals and that 2Q is likely to mark the trough for revenue growth and margins.
- Tandon remains bullish on the shares, given that EPAM is one of the premier providers of high-end digital transformation services with multi-year solid growth potential.
- While attending MongoDB, Inc MDB MongoDB World, Needham analyst Mike Cikos had the chance to speak with several MongoDB partners.
- MongoDB has differentiated itself from other Databases by taking a Platform approach.
- MongoDB has built a rich ecosystem that can sustain and support other businesses.
- Price Action: MDB shares traded lower by 9.01% at $244.50 on the last check Monday.
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