Backblaze price target raised to $11 from $10 at Oppenheimer

Oppenheimer raised the firm’s price target on Backblaze (BLZE) to $11 from $10 and keeps an Outperform rating on the shares. The firm expects solid quarterly results for the analytics, data, infrastructure, and security software group. Most companies are positioned to report revenue upside and modestly increase fiscal year guidance, the analyst tells investors in a research note. Opco’s channel conversations suggest solid Q3 deal flow, Q4 pipeline generation, and normal competitive dynamics. It remains bullish longer-term across the group.