Braze shares surged 7.4% on Friday, closing sharply higher while the S&P 500 and Nasdaq Composite fell 0.7% and 0.5%, respectively. The customer-engagement software company got a boost after Goldman Sachs analyst Callie Valenti initiated coverage with a Buy rating and a $34 price target, implying roughly 77% upside. The stock also benefited from a broader rebound in software names as fears eased that AI models from OpenAI and Anthropic could replace such platforms. Braze recently reported revenue of $211 million, up 30% year over year, and raised its full-year guidance, though it posted a net loss of nearly $27 million.
Braze IncGoldman Sachs initiated coverage with a Buy rating and $34 price target, implying 77% upside.
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