From Nasdaq:



In 2023, the stock market experienced a significant recovery period, with the S&P 500 Index ($SPX) surging 24% year-to-date. The tech sector, particularly, benefited from the artificial intelligence (AI) boom. Amid these trends, Wall Street is optimistic about two under-the-radar growth stocks – Braze (BRZE) and Smartsheet (SMAR).

Braze is a customer engagement software company that saw a 109% rise in its shares YTD, supported by strong Q3 fiscal 2024 results. Smartsheet, a cloud-based software company, saw its stock rise 22% in 2023, driven by robust fundamentals and a positive near-term outlook. With features like AI Recommendations and a growth of customers with high annual recurring revenue, Braze has managed to increase engagement, although it’s not yet profitable. Smartsheet’s automation capabilities have streamlined workflows and its third-quarter results led to a strong outlook at the end of 2023. Both stocks hold a “strong buy” rating, with Braze’s analysts predicting an upside potential of more than 25% over the next 12 months and Smartsheet’s target price indicating a potential upside of 15.5% in the next year.

In the modern era, the market demand for work management solutions like those offered by Braze and Smartsheet is at an all-time high with remote work and distributed teams becoming the norm. This industry demand is likely why Wall Street believes Braze and Smartsheet have exceptional long-term potential, with analysts predicting strong revenue and earnings growth for both companies in 2025.



Read more: 2 ‘Strong Buy’-Rated Tech Stocks Investors Should Be Eyeing Now