Backblaze price target raised to $11.50 from $11 at B. Riley

B. Riley raised the firm’s price target on Backblaze to $11.50 from $11 and keeps a Buy rating on the shares. The company reported “strong” Q4 results driven by strong retention, increasing traction up-market, and a tailwind from a price increase that took effect at the beginning of Q4, the analyst tells investors in a research note.