B. Riley Securities Maintains Buy Rating for Backblaze: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
B. Riley Securities has reaffirmed its Buy rating on Backblaze (NASDAQ:BLZE) and increased its price target from $9.00 to $11.00. Backblaze's shares have risen 1.49% in the last 24 hours to $8.88. The new price target suggests a potential upside of 23.87%. Backblaze provides cloud storage services, with a significant portion of its revenue coming from the United States.
February 09, 2024 | 5:00 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
B. Riley Securities maintains Buy rating on Backblaze, raising price target from $9 to $11, indicating a potential 23.87% upside from the current price.
The reaffirmation of the Buy rating and the increase in the price target by B. Riley Securities are strong positive signals for Backblaze. Given the analyst's positive outlook and the potential for a 23.87% upside, this could lead to increased investor confidence and a potential short-term price increase for BLZE.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100