B. Riley Securities Maintains Buy Rating for Backblaze: Here's What You Need To Know

B. Riley Securities has decided to maintain its Buy rating of Backblaze BLZE and raise its price target from $9.00 to $11.00.

Shares of Backblaze are trading up 1.49% over the last 24 hours, at $8.88 per share.

A move to $11.00 would account for a 23.87% increase from the current share price.

About Backblaze

Backblaze Inc provides cloud storage services. The company offers services such as Backblaze B2 Cloud Storage which enables customers to store data, developers to build applications, and partners to expand their use cases. It is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases including backups, multi-cloud, application development, and ransomware protection and Backblaze Computer Backup automatically backs up data from laptops and desktops for businesses and individuals. Geographically, it derives a majority of revenue from the United States.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.