Backblaze (BLZE) Scheduled to Post Quarterly Earnings on Thursday

Backblaze (NASDAQ:BLZEGet Rating) is set to post its quarterly earnings results after the market closes on Thursday, May 5th. Analysts expect Backblaze to post earnings of -0.37 per share for the quarter. Backblaze has set its Q1 2022 guidance at EPS and its FY 2022 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

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. On average, analysts expect Backblaze to post $-1 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

BLZE opened at 9.46 on Thursday. Backblaze has a twelve month low of 8.75 and a twelve month high of 36.50. The stock’s 50-day simple moving average is 10.63. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.21.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp purchased a new stake in Backblaze during the 4th quarter worth approximately $226,000. Susquehanna International Group LLP acquired a new position in Backblaze during the 4th quarter worth approximately $263,000. Squarepoint Ops LLC acquired a new position in Backblaze during the 4th quarter worth approximately $422,000. Geode Capital Management LLC acquired a new position in Backblaze during the 4th quarter worth approximately $924,000. Finally, BlackRock Inc. acquired a new position in Backblaze during the 4th quarter worth approximately $1,818,000. 1.51% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on BLZE. Lake Street Capital decreased their target price on shares of Backblaze from $28.00 to $21.00 in a report on Friday, February 18th. B. Riley decreased their target price on shares of Backblaze from $29.00 to $23.00 in a report on Friday, February 11th. Raymond James decreased their target price on shares of Backblaze from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, February 18th. Finally, Zacks Investment Research raised shares of Backblaze from a “sell” rating to a “hold” rating in a research note on Friday, April 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of 24.00.

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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