Braze Analyst Likes The Stock For Long-Term Capital Appreciation

  • JMP analyst Patrick Walravens reiterated a Market Outperform on Braze, Inc BRZE and a $52 price target.
  • He re-rated ahead of attending its FORGE 2022 Customer Conference and Investor Day in New York City.
  • He continued to like Braze for long-term capital appreciation for several reasons. 
  • The company disrupted a large and growing total addressable market opportunity, estimated at ~ $16 billion in the U.S. alone.
  • Braze has a highly differentiated offering built on a stream processing architecture, enabling customer-led growth strategies and optimizing timeliness rather than completeness.
  • The company posted 54% organic revenue growth despite the uncertain macroeconomic environment.
  • Walravens liked the thoughtful leadership of Braze CEO Bill Magnuson.
  • The company should benefit from IDFA and the deprecation of third-party cookies.
  • The analyst said the stock is very reasonably priced for its growth rate. 
  • Walravens price target reflected a premium to the peer group median multiple, which he believes is likely due to Braze's strong growth, impressive leadership team, and significant market opportunity. 
  • Price Action: BRZE shares traded lower by 3.36% at $31.09 on the last check Wednesday.
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