Cloud Stock Climbs on Upbeat Q4 Results

Core Viewpoint - Braze Inc (NASDAQ:BRZE) has shown resilience against the broader market selloff, with a notable increase of 10.7% to $40.64 after exceeding earnings estimates for the fourth quarter and providing a positive full-year earnings forecast [1] Group 1: Financial Performance - The company beat both top-line and bottom-line estimates in the fourth quarter, contributing to the stock's price increase [1] - Citigroup has adjusted its price target for Braze to $50, reflecting a "conservative growth outlook," while Wells Fargo raised its target from $50 to $55 [1] Group 2: Stock Performance - Braze's stock has surpassed its 40-day moving average and is trading at its highest levels since early February, despite being down approximately 4% year-to-date and 9% year-over-year [2] - The stock has experienced a significant increase in options trading, with 4.6 times its average daily options volume, indicating heightened investor interest [2] Group 3: Market Dynamics - Some of the gains in Braze's stock price may be attributed to short covering, as short interest, while decreasing, still represents 5.3% of the stock's available float [3]