Braze price target raised to $58 from $45 at TD Cowen

TD Cowen raised the firm’s price target on Braze to $58 from $45 and keeps an Outperform rating on the shares. The firm said they reported a solid 2Q with revenue growth of 34% which was well above Street’s estimate of 26%, and 2024 growth guidance was raised from 25% to 27% as better linearity and strong sales execution drove its largest upside in four quarters.