Backblaze price target lowered to $8.50 from $9.50 at Oppenheimer

Oppenheimer lowered the firm’s price target on Backblaze (BLZE) to $8.50 from $9.50 and keeps an Outperform rating on the shares. The firm notes Backblaze’s Q4 results included a record adjusted EBITDA margin of 27.6%. Overall execution showed signs-of-progress especially on the operational/free cash flow front, though revenue trends were mixed from a B2 and Computer Backup perspective as some B2 deals closed later in the quarter, Oppenheimer adds.