- JMP Analyst Patrick Walravens again confirmed a market outperform Braze, Inc BRZE and a Price target $52.
- He reassessed ahead of attending the FORGE 2022 customer conference and investor day in New York City.
- He continued to like Braze for several long-term capital appreciation reasons.
- The company disrupted a large and growing market opportunity valued at around $16 billion in the US alone.
- Braze has a highly differentiated offering built on a stream-processing architecture that enables customer-centric growth strategies and optimizes timeliness rather than completeness.
- The company posted 54% organic sales growth despite the uncertain macro environment.
- Walravens liked the thoughtful leadership of Braze CEO Bill Magnuson.
- The company should benefit from IDFA and the waiver of third-party cookies.
- The analyst said the stock is very cheaply valued for its growth rate.
- Walraven’s price target reflected a premium over the peer group’s median multiple, which he believes is likely due to Braze’s strong growth, impressive leadership team, and significant market opportunity.
- Price promotion: BRZE shares traded 3.36% lower at $31.09 on the last check Wednesday.
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