Backblaze, Inc. (NASDAQ:BLZE) Receives 24.00 Average Price Target from Analysts

Shares of Backblaze, Inc. (NASDAQ:BLZEGet Rating) have received a consensus rating of “Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is 24.00.

A number of equities analysts recently weighed in on the stock. Lake Street Capital lowered their price target on shares of Backblaze from $28.00 to $21.00 in a research report on Friday, February 18th. Raymond James lowered their price target on shares of Backblaze from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. B. Riley lowered their price target on shares of Backblaze from $29.00 to $23.00 in a research report on Friday, February 11th. Finally, Zacks Investment Research upgraded shares of Backblaze from a “sell” rating to a “hold” rating in a report on Friday.

BLZE traded down 0.59 on Friday, reaching 10.10. 816 shares of the company’s stock were exchanged, compared to its average volume of 53,084. Backblaze has a twelve month low of 8.75 and a twelve month high of 36.50. The business has a fifty day moving average price of 11.32. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.21.

Backblaze (NASDAQ:BLZEGet Rating) last posted its quarterly earnings results on Thursday, February 17th. The company reported -0.38 earnings per share for the quarter, missing analysts’ consensus estimates of -0.33 by -0.05. The company had revenue of 18.70 million for the quarter, compared to analysts’ expectations of 18.01 million. As a group, analysts predict that Backblaze will post -1.49 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new position in Backblaze in the 4th quarter valued at about $3,382,000. BlackRock Inc. purchased a new stake in shares of Backblaze in the 4th quarter valued at approximately $1,818,000. Geode Capital Management LLC purchased a new stake in shares of Backblaze in the 4th quarter valued at approximately $924,000. Squarepoint Ops LLC purchased a new stake in shares of Backblaze in the 4th quarter valued at approximately $422,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Backblaze in the 4th quarter valued at approximately $263,000. Institutional investors own 1.51% of the company’s stock.

Backblaze Company Profile (Get Rating)

Backblaze, Inc, a storage cloud platform, provides businesses and consumers with solutions to store, use, and protect the data worldwide. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.

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Analyst Recommendations for Backblaze (NASDAQ:BLZE)

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