What Happened?
Shares of customer engagement platform Braze (NASDAQ: BRZE) jumped 5.4% in the afternoon session after the financial services firm BTIG initiated coverage on the company with a "Buy" rating and set a price target of $45.
This move represented the first time BTIG had provided coverage for Braze, offering a fresh perspective on the stock. Analyst Allan Verkhovski's positive rating signaled confidence in the company's prospects. For investors, a new "Buy" rating from a respected firm can bring increased attention and credibility to a stock, often leading to heightened buying interest.
Is now the time to buy Braze? Access our full analysis report here.
What Is The Market Telling Us
Braze’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 6 months ago when the stock dropped 17.2% on the news that the company reported mixed first quarter 2025 (fiscal 2026) results: its full-year EPS guidance missed and its EPS guidance for next quarter fell short of Wall Street's estimates. The sales strength, however, was notable as full-year and next-quarter sales guidance came in above consensus, reflecting continued demand across its customer base. Still, this quarter could have been better.
Braze is down 17.8% since the beginning of the year, and at $35.69 per share, it is trading 24.4% below its 52-week high of $47.22 from January 2025. Investors who bought $1,000 worth of Braze’s shares at the IPO in November 2021 would now be looking at an investment worth $382.11.
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