Braze price target lowered to $35 from $40 at Macquarie

Macquarie lowered the firm’s price target on Braze (BRZE) to $35 from $40 and keeps a Neutral rating on the shares. Braze’s top line beat by 2%, but profitability was lower as a result of its recent OfferFit acquisition, while its dollar-based net retention fell to 109%, with continued excess churn impacting reaccelerated revenue growth, the analyst tells investors in a research note. The firm remains on the sidelines with the stock well priced.

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