Backblaze Q4 Earnings Spark Confidence Amid Mixed Revenue Trends

Backblaze Inc. (BLZE) reported a record adjusted EBITDA margin of 27.6% in Q4 and progress on operational and free cash flow fronts. However, revenue trends were mixed across its B2 and Computer Backup segments. Oppenheimer reduced its price target from $9.50 to $8.50, maintaining an Outperform rating with a 124% upside potential. Craig-Hallum downgraded its rating from Buy to Hold with a target price of $4.50 and a 19% upside potential.