Backblaze price target lowered to $11 from $11.50 at B. Riley

B. Riley lowered the firm’s price target on Backblaze (BLZE) to $11 from $11.50 and keeps a Buy rating on the shares ahead of the Q4 earnings report. The firm is modeling revenue and adjusted EBITDA of $33.7M and $4.4M, respectively, within guidance and in line with consensus, as focus shifts toward execution of the Google Tag Manager transformation and margin leverage from cost-streamlining initiatives, the analyst tells investors in a research note. The firm says consensus expectations for fiscal 2025 appear reasonable.