Oppenheimer analyst Ittai Kidron maintained a Buy rating on Backblaze (BLZE – Research Report) today and set a price target of $11.00. The company’s shares closed yesterday at $8.15.
Kidron covers the Technology sector, focusing on stocks such as Zscaler, Fortinet, and CyberArk Software. According to TipRanks, Kidron has an average return of 23.3% and a 61.49% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Backblaze with a $12.50 average price target, implying a 53.37% upside from current levels. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $18.00 price target.
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The company has a one-year high of $9.42 and a one-year low of $3.50. Currently, Backblaze has an average volume of 265.7K.
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Backblaze (BLZE) Company Description:
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.
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