Braze price target raised to $48 from $40 at Piper Sandler

Piper Sandler raised the firm’s price target on Braze (BRZE) to $48 from $40 and keeps an Overweight rating on the shares. The firm notes Q3 results were solid, underpinned by 24% growth in both subscription revenue and cRPO, coupled with strong enterprise customer traction and continued AI momentum. That said, timing of when top-line growth bottoms is likely to remain a key investor debate until at least March as management did not provide a preliminary 2026 look, Piper adds.