Backblaze rises after Needham initiates coverage
ReutersMar 11, 2025 3:57 PM
Shares of cloud storage firm Backblaze BLZE.O rise 3.4% to $5.15
Needham initiates coverage with "buy" rating and $8 price target
BLZE could see "significant tailwinds from GenAI adoption as customers prefer cloudneutral, cost-efficient storage and backup solutions within their GenAI bill-of-materials," brokerage says
As of Monday's close, stock has fallen more than 18% this year
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