Should I buy or sell Backblaze stock right now?

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Backblaze in the last year. There are currently 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" BLZE shares. View BLZE analyst ratings or view top-rated stocks .

What is Backblaze's stock price target for 2024?

4 Wall Street research analysts have issued 1-year target prices for Backblaze's shares. Their BLZE share price targets range from $11.00 to $18.00. On average, they anticipate the company's stock price to reach $14.00 in the next twelve months. This suggests a possible upside of 53.3% from the stock's current price. View analysts price targets for BLZE or view top-rated stocks among Wall Street analysts .

How have BLZE shares performed in 2024?

Backblaze's stock was trading at $7.59 at the start of the year. Since then, BLZE shares have increased by 20.3% and is now trading at $9.13. View the best growth stocks for 2024 here .

Are investors shorting Backblaze?

Backblaze saw a drop in short interest during the month of March. As of March 31st, there was short interest totaling 1,240,000 shares, a drop of 12.7% from the March 15th total of 1,420,000 shares. Based on an average daily volume of 402,300 shares, the days-to-cover ratio is currently 3.1 days. Currently, 4.7% of the company's stock are sold short. View Backblaze's Short Interest .

When is Backblaze's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 8th 2024. View our BLZE earnings forecast .

How can I listen to Backblaze's earnings call?

Backblaze will be holding an earnings conference call on Wednesday, May 8th at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link .

How were Backblaze's earnings last quarter?

Backblaze, Inc. (NASDAQ:BLZE) posted its quarterly earnings data on Thursday, February, 15th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. The business had revenue of $28.74 million for the quarter, compared to the consensus estimate of $28.18 million. Backblaze had a negative net margin of 57.70% and a negative trailing twelve-month return on equity of 105.94%.

What ETF holds Backblaze's stock?

Gabelli Automation ETF holds 4,427 shares of BLZE stock, representing 0.64% of its portfolio.

What guidance has Backblaze issued on next quarter's earnings?

Backblaze updated its first quarter 2024 earnings guidance on Friday, February, 16th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $29.6 million-$30.0 million, compared to the consensus revenue estimate of $28.9 million.

When did Backblaze IPO?

Backblaze (BLZE) raised $101 million in an initial public offering (IPO) on Thursday, November 11th 2021. The company issued 6,300,000 shares at $15.00-$17.00 per share. Oppenheimer & Co., William Blair and Raymond James served as the underwriters for the IPO and JMP Securities, Lake Street and B. Riley Securities were co-managers.

How do I buy shares of Backblaze?

Shares of BLZE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:BLZE

Backblaze (BLZE) Stock Price, News & Analysis

→ Biden’s $374B Giveaway Into This Sector (From DTI) (Ad)

Free BLZE Stock Alerts

$9.13

+0.01 (+0.11%)

(As of 04/18/2024 ET)

Compare

Today's Range: $9.10
▼
$9.35
50-Day Range: $8.05
▼
$11.83
52-Week Range: $3.50
▼
$12.65

Volume: 154,173 shs
Average Volume: 373,993 shs
Market Capitalization: $376.16 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $14.00

Get Backblaze alerts:

Backblaze MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 53.3% Upside
$14.00 Price Target
Short Interest: Healthy
4.71% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.57
Based on 9 Articles This Week
Insider Trading: Selling Shares
$851,676 Sold Last Quarter
Proj. Earnings Growth: Growing
From ($1.12) to ($0.85) Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

2.76 out of 5 stars

Computer And Technology Sector

334th out of 590 stocks

Prepackaged Software Industry

112th out of 190 stocks

3.5

Analyst's Opinion

Consensus Rating
Backblaze has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings.
Amount of Analyst Coverage
Backblaze has only been the subject of 3 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
4.71% of the float of Backblaze has been sold short.
Short Interest Ratio / Days to Cover
Backblaze has a short interest ratio ("days to cover") of 3.1, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Backblaze has recently decreased by 12.68%, indicating that investor sentiment is improving significantly.

0.0

Dividend Strength

Dividend Yield
Backblaze does not currently pay a dividend.
Dividend Growth
Backblaze does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for BLZE.

2.0

News and Social Media Coverage

News Sentiment
Backblaze has a news sentiment score of 0.57. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 9 news articles for Backblaze this week, compared to 1 article on an average week.
Search Interest
Only 4 people have searched for BLZE on MarketBeat in the last 30 days. This is a decrease of -73% compared to the previous 30 days.
MarketBeat Follows
Only 7 people have added Backblaze to their MarketBeat watchlist in the last 30 days. This is a decrease of -46% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Backblaze insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $851,676.00 in company stock.
Percentage Held by Insiders
Only 5.20% of the stock of Backblaze is held by insiders.
Percentage Held by Institutions
54.03% of the stock of Backblaze is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Backblaze are expected to grow in the coming year, from ($1.12) to ($0.85) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Backblaze is -5.53, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Backblaze is -5.53, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Backblaze has a P/B Ratio of 7.94. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

Ad InvestorPlace

New crypto project uncovers 2,050% in 65 days

During the event on Tuesday, April 23 at 10 am ET, I’ll be giving away the name and ticker symbol of crypto that could surge in price. I believe it will be the best performing crypto of 2024.

Just click here to sign up and be among the first to get it.

About Backblaze Stock (NASDAQ:BLZE)

Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. 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. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things. In addition, the company offers Backblaze Computer Backup that automatically backs up data from laptops and desktops for businesses and individuals, which provides a subscription-based Software-as-a-Service and serves use cases, including computer backup, ransomware protection, theft and loss protection, and remote access. It serves the public cloud IaaS storage and Data-Protection-as-a-Service markets. The company was incorporated in 2007 and is headquartered in San Mateo, California.

BLZE Stock Price History

30 days | 90 days | 365 days | Advanced Chart

BLZE Stock News Headlines

March 29, 2024 | insidertrades.com

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna Sells 20,000 Shares

April 18, 2024 | americanbankingnews.com

Backblaze (NASDAQ:BLZE) Price Target Increased to $13.00 by Analysts at Oppenheimer

April 19, 2024 | Gold Safe Exchange (Ad)

The “Perfect Storm” for Gold

Gold has already reached all-time highs, and experts believe it's not slowing down any time soon. In fact, some analysts predict a $7,000 price tag by 2025.

April 17, 2024 | globenewswire.com

Backblaze to Announce First Quarter 2024 Results on May 8, 2024

April 17, 2024 | morningstar.com

Backblaze Inc Class A

April 17, 2024 | markets.businessinsider.com

Assessing Backblaze: Insights From 4 Financial Analysts

April 15, 2024 | finance.yahoo.com

Backblaze Enables Automated Cloud Workflows With Event Notifications

April 15, 2024 | globenewswire.com

Backblaze Enables Automated Cloud Workflows With Event Notifications

April 19, 2024 | Gold Safe Exchange (Ad)

The “Perfect Storm” for Gold

Gold has already reached all-time highs, and experts believe it's not slowing down any time soon. In fact, some analysts predict a $7,000 price tag by 2025.

April 11, 2024 | globenewswire.com

Backblaze Completes Trusted Partner Network Assessment, Receiving Blue Shield Status

April 9, 2024 | finance.yahoo.com

Backblaze Launches Next-Gen Cloud Workflow Tools, Security Announcements, and More at NAB 2024

April 9, 2024 | globenewswire.com

Backblaze Launches Next-Gen Cloud Workflow Tools, Security Announcements, and More at NAB 2024

March 28, 2024 | globenewswire.com

Backblaze Achieves StateRAMP Progressing Snapshot and TX-RAMP Provisional Authorizations

March 21, 2024 | finance.yahoo.com

Backblaze’s Solutions Now Available on Carahsoft’s NASPO ValuePoint Contract

March 21, 2024 | globenewswire.com

Backblaze's Solutions Now Available on Carahsoft's NASPO ValuePoint Contract

March 17, 2024 | finance.yahoo.com

A Look At The Fair Value Of Backblaze, Inc. (NASDAQ:BLZE)

March 16, 2024 | finance.yahoo.com

BLZE Oct 2024 20.000 call

March 16, 2024 | finance.yahoo.com

BLZE May 2024 15.000 call

February 24, 2024 | finance.yahoo.com

Backblaze Inc CEO Gleb Budman Sells 150,000 Shares

February 19, 2024 | finance.yahoo.com

At US$11.83, Is It Time To Put Backblaze, Inc. (NASDAQ:BLZE) On Your Watch List?

February 18, 2024 | finance.yahoo.com

BLZE Mar 2024 12.500 put

February 17, 2024 | seekingalpha.com

MVIS, IRDM and GRTS are among after hour movers

February 17, 2024 | finance.yahoo.com

BLZE Mar 2024 10.000 call

February 16, 2024 | theglobeandmail.com

Why Backblaze Stock Skyrocketed Today

February 16, 2024 | fool.com

Why Backblaze Stock Skyrocketed Today

February 16, 2024 | finanznachrichten.de

Backblaze, Inc.: Backblaze Announces Fourth Quarter and Full Year 2023 Financial Results

February 16, 2024 | finance.yahoo.com

Backblaze, Inc. (NASDAQ:BLZE) Q4 2023 Earnings Call Transcript

See More Headlines

Receive BLZE Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Backblaze and its competitors with MarketBeat's FREE daily newsletter.

Company Calendar

Last Earnings: 2/15/2024
Today: 4/18/2024
Next Earnings (Confirmed): 5/08/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Computer and Technology
Industry: Prepackaged software
Sub-Industry: N/A
Current Symbol: NASDAQ:BLZE
CUSIP: N/A
CIK: 1462056
Web: www.backblaze.com
Phone: 650-352-3738
Fax: 650-472-8095
Employees: 393
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $14.00
High Stock Price Target: $18.00
Low Stock Price Target: $11.00
Potential Upside/Downside: +51.2%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 4 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.65)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-59,710,000.00
Net Margins: -57.70%
Pretax Margin: -58.53%
Return on Equity: -105.94%
Return on Assets: -40.33%

Debt

Debt-to-Equity Ratio: 0.39
Current Ratio: 0.67
Quick Ratio: 0.67

Sales & Book Value

Annual Sales: $102.02 million
Price / Sales: 3.74
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $1.15 per share
Price / Book: 8.05

Miscellaneous

Outstanding Shares: 41,200,000
Free Float: 39,058,000
Market Cap: $381.51 million
Optionable: Optionable
Beta: 1.20

10 Best Cheap Stocks to Buy Now

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

Get This Free Report

Key Executives

Mr. Gleb Budman (Age 49)
Co-Founder, CEO & Chairman
Comp: $429.87k
Mr. Tim Nufire (Age 59)
Co-Founder
Mr. Brian Wilson (Age 56)
Co-Founder
Comp: $429.87k
Mr. Francis P. Patchel (Age 66)
Chief Financial Officer
Comp: $454.15k
Mr. Casey Jones
Co-Founder
Mr. Hang Ng Kwok
Co-Founder
Mr. Nilay Patel
Co-Founder & VP of Sales
Damon Uyeda
Co-Founder
Ms. Anu Patil
Vice President of Revenue Strategy & Operations
Mr. Brian Beach
Chief Technology Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

BLZE Stock Analysis - Frequently Asked Questions

Should I buy or sell Backblaze stock right now?: 4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Backblaze in the last year. There are currently 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" BLZE shares.
View BLZE analyst ratings or view top-rated stocks.
What is Backblaze's stock price target for 2024?: 4 Wall Street research analysts have issued 1-year target prices for Backblaze's shares. Their BLZE share price targets range from $11.00 to $18.00. On average, they anticipate the company's stock price to reach $14.00 in the next twelve months. This suggests a possible upside of 53.3% from the stock's current price.
View analysts price targets for BLZE or view top-rated stocks among Wall Street analysts.
How have BLZE shares performed in 2024?: Backblaze's stock was trading at $7.59 at the start of the year. Since then, BLZE shares have increased by 20.3% and is now trading at $9.13.
View the best growth stocks for 2024 here.
Are investors shorting Backblaze?: Backblaze saw a drop in short interest during the month of March. As of March 31st, there was short interest totaling 1,240,000 shares, a drop of 12.7% from the March 15th total of 1,420,000 shares. Based on an average daily volume of 402,300 shares, the days-to-cover ratio is currently 3.1 days. Currently, 4.7% of the company's stock are sold short.
View Backblaze's Short Interest.
When is Backblaze's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 8th 2024.
View our BLZE earnings forecast.
How can I listen to Backblaze's earnings call?: Backblaze will be holding an earnings conference call on Wednesday, May 8th at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link.

How were Backblaze's earnings last quarter?: Backblaze, Inc. (NASDAQ:BLZE) posted its quarterly earnings data on Thursday, February, 15th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. The business had revenue of $28.74 million for the quarter, compared to the consensus estimate of $28.18 million. Backblaze had a negative net margin of 57.70% and a negative trailing twelve-month return on equity of 105.94%.
What ETF holds Backblaze's stock?: Gabelli Automation ETF holds 4,427 shares of BLZE stock, representing 0.64% of its portfolio.
What guidance has Backblaze issued on next quarter's earnings?: Backblaze updated its first quarter 2024 earnings guidance on Friday, February, 16th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $29.6 million-$30.0 million, compared to the consensus revenue estimate of $28.9 million.
When did Backblaze IPO?: Backblaze (BLZE) raised $101 million in an initial public offering (IPO) on Thursday, November 11th 2021. The company issued 6,300,000 shares at $15.00-$17.00 per share. Oppenheimer & Co., William Blair and Raymond James served as the underwriters for the IPO and JMP Securities, Lake Street and B. Riley Securities were co-managers.
How do I buy shares of Backblaze?: Shares of BLZE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:BLZE) was last updated on 4/19/2024 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access Free

Best-in-Class Portfolio Monitoring
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Stock Ideas and Recommendations
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
Advanced Stock Screeners and Research Tools
Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

Start Your 30-Day Free Trial