Braze, Inc. (NASDAQ:BRZE) shares were trading lower on Wednesday in a volatile session after the company disclosed a deal to be acquired by Salesforce, Inc.
66 billion in enterprise value. Several analysts downgraded Braze following the announcement, citing the limited potential for further upside after the proposed acquisition.
BTIG Sees Limited Upside For Competing Bids BTIG analyst Nick Altmann downgraded Braze from Buy to Neutral following the deal. 3x fiscal 2028 estimated sales, a valuation the analyst considers attractive for shareholders but one that leaves little room for competing bids.
Altmann views the transaction as a strategic fit for Salesforce, combining its Data 360 and Customer 360 platforms with Braze’s personalized, cross-channel engagement tools across mobile apps, email, web, SMS and WhatsApp. With Salesforce’s Marketing and Commerce segment reporting negative growth for three consecutive quarters, Braze’s approximately 25% growth rate and $900 million revenue run rate could help revive growth in the business.
50. 0x median software acquisition multiple recorded since 2025.
Fitzsimmons views the deal as recognition of Braze’s technology, commercial execution and AI development. Its capabilities could strengthen Salesforce Marketing Cloud’s real-time personalization and mobile engagement offerings.
The acquisition would also remove a growing competitor for Salesforce and could generate technology synergies with Data 360 and Agentforce. BRZE Earnings Preview And Analyst Outlook Into December 2026 Looking further out, the next major catalyst for the stock arrives with the December 8, 2026 (estimated) earnings report.
92. Recent analyst moves include: BTIG: Downgraded to Neutral (Oct.
50) (Oct. 20) Oppenheimer: Downgraded to Perform (Oct.
46 during premarket trading on Wednesday, according to Benzinga Pro data. Read Also: After Braze, Could Klaviyo Be Big Tech’s Next Billion-Dollar Bet?
