Needham Reiterates Buy on Backblaze, Trims Price Target to $8 After Q3 Print

Backblaze, Inc. (NASDAQ:BLZE) is one of the small-cap tech stocks on Wall Street's radar. On November 6, 2025, Needham maintained its Buy rating on Backblaze and cut its 12-month price target to $8. However, we could not find any commentary accompnying the price-target update. The same day, Backblaze reported Q3 2025 results. The company's Q3 worked because mix and scale finally lined up. B2 Cloud Storage jumped 28% to $20.7M while Computer Backup stayed flat, so growth came from the higher-velocity prod ...