Backblaze (NASDAQ:BLZE) Price Target Lowered to $6.00 at Needham & Company LLC

Backblaze (NASDAQ:BLZE) had its price objective decreased by Needham & Company LLC from $8.00 to $6.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms also recently commented on BLZE. Citigroup reissued a “market outperform” rating on shares of Backblaze in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Backblaze in a research report on Wednesday, January 21st. Finally, Raymond James Financial reissued an “outperform” rating on shares of Backblaze in a research note on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Backblaze currently has an average rating of “Moderate Buy” and a consensus price target of $7.21.

Backblaze Price Performance

Shares of Backblaze stock opened at $3.76 on Tuesday. The firm has a market capitalization of $216.95 million, a PE ratio of -8.17 and a beta of 1.28. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.24. Backblaze has a 12 month low of $3.67 and a 12 month high of $10.86. The business’s 50-day moving average price is $4.61 and its 200-day moving average price is $6.71.

Institutional Trading of Backblaze

A number of institutional investors have recently modified their holdings of BLZE. Wasatch Advisors LP bought a new stake in shares of Backblaze in the third quarter worth about $17,021,000. Pillsbury Lake Capital LLC bought a new stake in shares of Backblaze in the 4th quarter worth approximately $8,058,000. Renaissance Technologies LLC grew its position in shares of Backblaze by 94.5% in the 4th quarter. Renaissance Technologies LLC now owns 810,752 shares of the company’s stock worth $3,778,000 after buying an additional 393,936 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Backblaze by 165.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 480,281 shares of the company’s stock valued at $4,457,000 after buying an additional 299,672 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in shares of Backblaze during the fourth quarter valued at approximately $1,165,000. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

Key Backblaze News

Here are the key news stories impacting Backblaze this week:

• Positive Sentiment: Q4 beat — Backblaze reported EPS of $0.06 and revenue of $37.76M, topping estimates and showing progress toward profitability. Backblaze Announces Fourth Quarter and Full-Year 2025 Financial Results
• Positive Sentiment: Product & large contract signal growth runway — Backblaze launched B2 Neo (neocloud-focused product) and closed its first eight-figure TCV neocloud deal, validating demand for its AI-era storage offering. Backblaze Launches B2 Neo to Power Surging Neocloud Market; Multiple Major Platforms Already Signed On
• Positive Sentiment: Leadership hire strengthens AI/product focus — Backblaze named Rhett Dillingham SVP of Product, adding experienced AI and cybersecurity product leadership as the company pushes into neocloud and AI use cases. Backblaze Appoints Rhett Dillingham Senior Vice President of Product
• Neutral Sentiment: Earnings call/transcript available for details — Management commentary and the transcript provide deeper color on commercial momentum and margins for investors deciding whether the beat is durable. Backblaze Q4 2025 Earnings Call Transcript
• Negative Sentiment: Revenue guidance missed consensus — Q1 and FY2026 revenue targets were guided slightly below Wall Street expectations (Q1: $37.6–$38.0M vs. ~$38.1M consensus; FY: $156.5–$158.5M vs. ~$160.3M), which likely triggered downward pressure. Backblaze Announces Fourth Quarter and Full-Year 2025 Financial Results
• Negative Sentiment: Analysts trimmed price targets — Needham and B. Riley cut PTs (Needham to $6, B. Riley to $7.50) while keeping buy ratings; lower targets can amplify selling even if ratings remain constructive. Backblaze Inc (BLZE) PT Lowered to $6 at Needham B. Riley Price Target Note
• Negative Sentiment: Technical/volume pressure — Shares are trading well above average volume and below key moving averages (50/200-day), increasing the risk of momentum-driven selling. BLZE MarketBeat Quote

About Backblaze

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.