Needham analyst Mike Cikos has maintained their bullish stance on BLZE stock, giving a Buy rating today.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Mike Cikos has given his Buy rating due to a combination of factors that highlight Backblaze’s strong performance and growth potential. The company reported impressive second-quarter results for 2025, with B2 Cloud Storage experiencing a remarkable 29% growth, surpassing the management’s expectations. This growth was partly driven by increased data storage demands from an AI customer, which has positively influenced the company’s outlook.
Additionally, Backblaze’s management has raised their guidance for the upcoming quarter, indicating confidence in continued growth. The company is also on track to achieve positive free cash flow by the fourth quarter of 2025. Moreover, Backblaze’s strategic positioning in the AI sector, with AI customers now comprising three of its top ten clients, underscores the value of its cost-effective storage solutions. These factors collectively support the Buy rating given by Mike Cikos.