Software firm Braze slides after cutting annual profit outlook

Shares of customer engagement platform Braze BRZE.O down 14.5% to $30.87, over one-month low, early Fri after software firm slashes earnings forecast

BRZE shares on track for biggest one-day pct drop in exactly nine months, when they shed 19.4% after qtrly report

New York-based firm late Thurs guided for FY 2026 adj EPS of 15-18 cents, down from prior forecast of 31-35 cents

Fiscal Q1 rev of $162.1 mln, up ~20% y/y, topped analysts' estimate of $158.7 mln, and adj EPS of 7 cents beat by 2 cents, according to LSEG data

At least 7 brokerages cut their PTs reacting to the report, including JP Morgan to $45 from $47, UBS to $48 from $51

TD Cowen said in note BRZE's customer net retention rate expected to remain pressured near term, which is likely an overhang, but analysts see path for rebound in late 2025

Of 21 brokerages covering BRZE, recommendation breakdown is 20 "strong buy" or "buy" and 1 "hold"; median PT of $43 down from $50 a month ago - latest LSEG data

With move on Fri, stock down 26% YTD vs Nasdaq's .IXIC 1% advance