Braze (BRZE) Demonstrated 30% Revenue Growth

RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds released “The RiverPark/Next Century Growth Fund” Q4 2023 investor letter in partnership with Next Century Growth Investors, LLC. A copy of the same can be downloaded here. The fund returned 4.75% in the fourth quarter compared to a 12.75% return for the Russell 2000 Growth Total Return Index. The recent market rally highlights the significance of macroeconomic indicators and the Fed’s stance on interest rates. In addition, please check the fund’s top five holdings to know its best picks in 2023.

The RiverPark/Next Century Growth Fund featured stocks like Braze, Inc. (NASDAQ:BRZE) in the fourth quarter 2023 investor letter. Based in New York, New York, Braze, Inc. (NASDAQ:BRZE) provides a customer engagement platform. On April 4, 2024, Braze, Inc. (NASDAQ:BRZE) stock closed at $42.35 per share. One-month return of Braze, Inc. (NASDAQ:BRZE) was -20.12%, and its shares gained 23.29% of their value over the last 52 weeks. Braze, Inc. (NASDAQ:BRZE) has a market capitalization of $4.228 billion.

The RiverPark/Next Century Growth Fund stated the following regarding Braze, Inc. (NASDAQ:BRZE) in its fourth quarter 2023 investor letter:

“Braze, Inc. (NASDAQ:BRZE)is a leading next-generation customer engagement platform that allows brands to deliver cross channel marketing campaigns to end customers in real-time. BRZE currently serves about 2,000 customers across a diverse range of verticals, including retail/ecommerce, media & entertainment, financial services, travel & hospitality, quick service restaurants, and social/messaging/gaming. With a next-generation platform addressing the modern needs of an enterprise, Braze is disrupting the market and gaining share from legacy competitors, demonstrated by recent revenue growth in the 30% range with 70%+ gross margins.”

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A web developer hunched over their laptop coding a customer engagement platform.

Braze, Inc. (NASDAQ:BRZE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Braze, Inc. (NASDAQ:BRZE) was held by 27 hedge fund portfolios, compared to 23 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.