Craig-Hallum raised the firm’s price target on Backblaze (BLZE) to $11 from $10 and keeps a Buy rating on the shares following many conversations with current and prospective Backblaze holders. The firm sees the 16-times EBITDA/1.9-times revenue multiple a significant disconnect from the quality/differentiation it found and the 27% MRQ revenue growth and path to free cash flow B/E by mid-2025.
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Read More on BLZE:
- Backblaze appoints Cotten as VP of Sales, Dodson as Senior Director
- Backblaze management to meet with Craig-Hallum
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