Dj Braze Price Target Cut To $45.00/Share From $55.00 By Goldman Sachs

What Happened?

A number of stocks jumped in the afternoon session after reports of easing geopolitical tensions in Greenland boosted investor sentiment. 

The relief rally saw major indices, including the S&P 500 and the tech-heavy Nasdaq Composite, rebound as investors moved back into riskier assets. This positive shift was reflected across the technology landscape, with all of the Magnificent Seven tech firms seeing their shares climb. The easing of international friction reduced market uncertainty, which often encourages investment in growth-oriented sectors like technology. The move was part of a broader market upswing, with the Dow Jones Industrial Average adding 500 points, signaling increased investor confidence.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• E-commerce Software company Wix jumped 6.9%. Is now the time to buy Wix? Access our full analysis report here, it’s free.
• Video Conferencing company Five9 jumped 7%. Is now the time to buy Five9? Access our full analysis report here, it’s free.
• Data Storage company DigitalOcean jumped 6%. Is now the time to buy DigitalOcean? Access our full analysis report here, it’s free.
• Data Analytics company Amplitude jumped 6.4%. Is now the time to buy Amplitude? Access our full analysis report here, it’s free.
• Marketing Software company Braze jumped 6.7%. Is now the time to buy Braze? Access our full analysis report here, it’s free.

Zooming In On Five9 (FIVN)

Five9’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 9 days ago when the stock dropped 3.2% on the news that an analyst at Barclays lowered the company's price target, which overshadowed positive partnership news. 

The previous day, Barclays analyst Raimo Lenschow cut the firm's price target on the stock to $25 from $29. While the firm kept its "Overweight" rating, the nearly 14% reduction in the price target signaled a more cautious view of the company's future stock performance. This analyst action seemed to weigh on the stock more heavily than a separate announcement that Five9 expanded its partnership with Google Cloud. The company disclosed a new joint AI solution to help large businesses improve their customer service, but the news was not enough to overcome the negative sentiment from the price target cut.

Five9 is down 1.6% since the beginning of the year, and at $18.51 per share, it is trading 56.8% below its 52-week high of $42.82 from February 2025. Investors who bought $1,000 worth of Five9’s shares 5 years ago would now be looking at an investment worth $103.24.

What Happened?

A number of stocks fell in the afternoon session after tech stocks pulled back as reports surfaced that Chinese customs authorities blocked Nvidia's H200 AI chips, effectively halting their entry despite recent U.S. export approvals. 

This semiconductor sell-off, led by Broadcom and Micron, reflected deepening fears that the "AI trade" was colliding with a protectionist "new normal." Investors were concerned about the prospect of a fragmented global order where tech giants are caught between Washington's industrial strategy and Beijing's push for semiconductor sovereignty.Broadening the risk, markets were also agitated about the Justice Department's investigation into Fed Chair Jerome Powell, sparking concerns over central bank independence. This domestic political friction, paired with rising oil prices from Iranian civil unrest, likely forced a pivot from growth to defense.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Vertical Software company Guidewire Software fell 6.1%. Is now the time to buy Guidewire Software? Access our full analysis report here, it’s free.
• Spend Management Software company American Express Global Business Travel fell 6.1%. Is now the time to buy American Express Global Business Travel? Access our full analysis report here, it’s free.
• Automation Software company Appian fell 6.3%. Is now the time to buy Appian? Access our full analysis report here, it’s free.
• Marketing Software company Braze fell 6%. Is now the time to buy Braze? Access our full analysis report here, it’s free.
• Content Delivery company Fastly (NYSE:FSLY) fell 3%. Is now the time to buy Fastly? Access our full analysis report here, it’s free.

Zooming In On Appian (APPN)

Appian’s shares are very volatile and have had 24 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 11 months ago when the stock gained 21.1% on the news that the company reported strong fourth quarter results that beat analysts' revenue, EPS, and adjusted operating income expectations. 

Cloud subscription revenue, its key growth driver, increased 19% y/y, fueling a 15% rise in total sales.In addition, its full-year EPS and EBITDA guidance topped Wall Street's estimates. Margins improved significantly, with GAAP operating income swinging to profitability compared to losses in the prior year.Looking ahead, full-year sales guidance came in line with expectations, while EBITDA and earnings exceeded consensus estimates. Overall, this was a solid quarter.

Appian is down 13.1% since the beginning of the year, and at $29.58 per share, it is trading 35.2% below its 52-week high of $45.64 from November 2025. Investors who bought $1,000 worth of Appian’s shares 5 years ago would now be looking at an investment worth $169.94.

Let’s dig into the relative performance of Sprout Social and its peers as we unravel the now-completed Q3 sales and marketing software earnings season.

The Internet and the exploding amount of data have transformed how businesses interact with, market to, and transact with their customers. Personalization of offerings, e-commerce, targeted advertising and data-empowered sales teams are now table stakes for modern businesses, and sales and marketing software providers are becoming the tools of evolving customer interaction.

The 20 sales and marketing software stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.3% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 1.9% on average since the latest earnings results.

Sprout Social

Born from the recognition that businesses needed a centralized way to handle their growing social media presence, Sprout Social provides a comprehensive software platform that helps businesses manage, analyze, and optimize their presence across various social media networks.

Sprout Social reported revenues of $115.6 million, up 12.6% year on year. This print exceeded analysts’ expectations by 0.6%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.

“Our team delivered strong results in the third quarter, highlighted by 17% cRPO growth and strong profitability,” said Ryan Barretto, CEO of Sprout Social.

Unsurprisingly, the stock is down 1.4% since reporting and currently trades at $10.11.

Best Q3: Sprinklr

With a proprietary AI engine processing 450 million data points daily across 30+ digital channels, Sprinklr provides cloud-based software that helps large enterprises manage customer experiences across social, messaging, chat, and voice channels.

Sprinklr reported revenues of $219.1 million, up 9.2% year on year, outperforming analysts’ expectations by 4.5%. The business had an exceptional quarter with an impressive beat of analysts’ billings estimates and EPS guidance for next quarter exceeding analysts’ expectations.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 3.2% since reporting. It currently trades at $7.30.

Weakest Q3: Upland Software

Operating under the mantra "land and expand," Upland Software provides cloud-based applications that help organizations manage projects, workflows, and digital transformation across various business functions.

Upland Software reported revenues of $50.53 million, down 24.2% year on year, exceeding analysts’ expectations by 1.2%. Still, it was a softer quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and EBITDA guidance for next quarter missing analysts’ expectations significantly.

Upland Software delivered the slowest revenue growth in the group. As expected, the stock is down 21.1% since the results and currently trades at $1.52.

Read our full analysis of Upland Software’s results here.

ZoomInfo

Operating a platform it calls "RevOS" - short for Revenue Operating System - ZoomInfo provides sales, marketing, and recruiting teams with business intelligence and analytics to identify prospects and deliver targeted outreach.

ZoomInfo reported revenues of $318 million, up 4.7% year on year. This number beat analysts’ expectations by 4.7%. It was a strong quarter as it also logged EPS guidance for next quarter exceeding analysts’ expectations and full-year EPS guidance exceeding analysts’ expectations.

The company added 3 enterprise customers paying more than $100,000 annually to reach a total of 1,887. The stock is down 14.7% since reporting and currently trades at $10.06.

Read our full, actionable report on ZoomInfo here, it’s free.

Braze

With its technology powering interactions with 6.2 billion monthly active users across the digital landscape, Braze provides a platform that helps brands build and maintain direct relationships with their customers through personalized, cross-channel messaging and engagement.

Braze reported revenues of $190.8 million, up 25.5% year on year. This print surpassed analysts’ expectations by 3.6%. Overall, it was a very strong quarter as it also produced an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ billings estimates.

The company added 106 customers to reach a total of 2,528. The stock is down 4.3% since reporting and currently trades at $29.32.

Read our full, actionable report on Braze here, it’s free.

What Happened?

A number of stocks fell in the morning session after a broader market rotation out of the technology sector led to profit-taking following a recent rally. 

The move was part of a wider trend that saw high-growth technology stocks fall, with the Nasdaq experiencing the sharpest decline among the major indices. Multiple reports indicated that traders were locking in profits, particularly from the artificial-intelligence trade, which had previously seen a strong run-up. This market action represented a shift in investor focus, as money moved out of tech. 

Defense stocks emerged as the primary beneficiary of this capital shift, surging after President Trump proposed a massive $1.5 trillion defense budget for 2027. Major contractors rallied on the news, with Northrop Grumman jumping over 10% and Lockheed Martin gaining nearly 8%, providing a counterbalance to the tech slump that kept the S&P 500 flat. The rotation into heavy industry was further supported by a stabilization in energy markets, as crude prices rebounded.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Hospitality & Restaurant Software company Toast fell 2.1%. Is now the time to buy Toast? Access our full analysis report here, it’s free for active Edge members.
• Developer Operations company GitLab fell 2.4%. Is now the time to buy GitLab? Access our full analysis report here, it’s free for active Edge members.
• Healthcare And Life Sciences Software company Doximity fell 3.6%. Is now the time to buy Doximity? Access our full analysis report here, it’s free for active Edge members.
• Data Storage company Commvault fell 3.4%. Is now the time to buy Commvault? Access our full analysis report here, it’s free for active Edge members.
• Marketing Software company Braze fell 3.1%. Is now the time to buy Braze? Access our full analysis report here, it’s free for active Edge members.

Zooming In On Doximity (DOCS)

Doximity’s shares are very volatile and have had 24 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 3 days ago when the stock gained 6% on the news that investors wagered geopolitical tension would be contained following the U.S. military's operation in Venezuela, with the Dow hitting a fresh record. 

Sentiment remained firmly "risk-on" for early 2026, with Wall Street prioritizing domestic economic strength over foreign turbulence. Analysts noted that while the event raises short-term supply questions, the market largely viewed the potential stabilization of Venezuela's vast oil reserves as a long-term economic positive. 

Also, investor attention turned to the annual CES 2026 technology conference in Las Vegas, with artificial intelligence emerging as a central theme. Attention shifted to tech giants like Nvidia and AMD, whose CEOs were headlining the event. This focus continued the AI-fuelled momentum that drove market gains the previous year. The rally had global reach, with an MSCI Asia Pacific Index surge being driven by heavyweight chip names like Samsung and Taiwan Semiconductor Manufacturing Company. The event reinforced investor confidence in the long-term demand for the booming AI and chipmaking trend, boosting shares of companies across the semiconductor and technology space.

Doximity is up 1.7% since the beginning of the year, but at $44.04 per share, it is still trading 47% below its 52-week high of $83.14 from February 2025. Investors who bought $1,000 worth of Doximity’s shares at the IPO in June 2021 would now be looking at an investment worth $830.92.

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Braze and its peers.

The Internet and the exploding amount of data have transformed how businesses interact with, market to, and transact with their customers. Personalization of offerings, e-commerce, targeted advertising and data-empowered sales teams are now table stakes for modern businesses, and sales and marketing software providers are becoming the tools of evolving customer interaction.

The 21 sales and marketing software stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.3% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 5.2% on average since the latest earnings results.

Braze

With its technology powering interactions with 6.2 billion monthly active users across the digital landscape, Braze provides a platform that helps brands build and maintain direct relationships with their customers through personalized, cross-channel messaging and engagement.

Braze reported revenues of $190.8 million, up 25.5% year on year. This print exceeded analysts’ expectations by 3.6%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ billings estimates.

Interestingly, the stock is up 2.5% since reporting and currently trades at $31.41.

Best Q3: Sprinklr

With a proprietary AI engine processing 450 million data points daily across 30+ digital channels, Sprinklr provides cloud-based software that helps large enterprises manage customer experiences across social, messaging, chat, and voice channels.

Sprinklr reported revenues of $219.1 million, up 9.2% year on year, outperforming analysts’ expectations by 4.5%. The business had an exceptional quarter with a solid beat of analysts’ billings estimates and EPS guidance for next quarter exceeding analysts’ expectations.

However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $7.54.

Weakest Q3: Upland Software

Operating under the mantra "land and expand," Upland Software provides cloud-based applications that help organizations manage projects, workflows, and digital transformation across various business functions.

Upland Software reported revenues of $50.53 million, down 24.2% year on year, exceeding analysts’ expectations by 1.2%. Still, it was a softer quarter as it posted revenue guidance for next quarter missing analysts’ expectations.

Upland Software delivered the slowest revenue growth in the group. As expected, the stock is down 18% since the results and currently trades at $1.58.

Read our full analysis of Upland Software’s results here.

LiveRamp

Serving as the digital middleman in an increasingly privacy-conscious world, LiveRamp provides technology that helps companies securely share and connect their customer data with trusted partners while maintaining privacy compliance.

LiveRamp reported revenues of $199.8 million, up 7.7% year on year. This number topped analysts’ expectations by 1%. It was a strong quarter as it also produced an impressive beat of analysts’ EBITDA estimates and a narrow beat of analysts’ annual recurring revenue estimates.

The company added 5 enterprise customers paying more than $1 million annually to reach a total of 132. The stock is up 3.8% since reporting and currently trades at $28.46.

Read our full, actionable report on LiveRamp here, it’s free for active Edge members.

Wix

Powering over 263 million registered users worldwide with its AI-driven tools, Wix provides a cloud-based platform that helps individuals and businesses create and manage professional websites without requiring coding skills.

Wix reported revenues of $505.2 million, up 13.6% year on year. This result surpassed analysts’ expectations by 0.6%. Zooming out, it was a slower quarter as it produced a significant miss of analysts’ EBITDA estimates and revenue guidance for next quarter meeting analysts’ expectations.

The stock is down 20.4% since reporting and currently trades at $101.05.

Read our full, actionable report on Wix here, it’s free for active Edge members.