Backblaze (NASDAQ:BLZE) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Backblaze (NASDAQ:BLZE) has received a "sell (D-)" rating from Weiss Ratings, maintaining concerns about the stock's performance.
• Despite the negative rating, other analysts have given Backblaze a consensus rating of "Moderate Buy," with price targets ranging from $8.00 to $11.00.
• Backblaze reported a miss on earnings per share in its last quarter, with a negative net margin of 31.72% and an earnings projection of -$1.02 for the current fiscal year.

Backblaze (NASDAQ:BLZE - Get Free Report)'s stock had its "sell (d-)" rating restated by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

A number of other research analysts also recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Backblaze from $7.00 to $8.50 and gave the company a "buy" rating in a report on Thursday, August 7th. Oppenheimer raised their price target on shares of Backblaze from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Friday, October 17th. Finally, JMP Securities lifted their target price on shares of Backblaze from $7.00 to $8.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Backblaze currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.07.

Backblaze Stock Down 0.6%

Shares of NASDAQ:BLZE traded down $0.06 during trading on Friday, reaching $10.44. 415,216 shares of the company traded hands, compared to its average volume of 512,459. The firm has a market cap of $589.86 million, a P/E ratio of -11.73 and a beta of 1.22. The firm has a fifty day simple moving average of $9.16 and a 200 day simple moving average of $6.63. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.24. Backblaze has a 1-year low of $3.94 and a 1-year high of $10.83.

Backblaze (NASDAQ:BLZE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). The business had revenue of $36.30 million for the quarter, compared to the consensus estimate of $35.41 million. Backblaze had a negative net margin of 31.72% and a negative return on equity of 54.88%. Backblaze has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts anticipate that Backblaze will post -1.02 earnings per share for the current fiscal year.

Institutional Trading of Backblaze

Several institutional investors have recently made changes to their positions in BLZE. Ameritas Investment Partners Inc. boosted its position in Backblaze by 39.9% in the second quarter. Ameritas Investment Partners Inc. now owns 5,469 shares of the company's stock valued at $30,000 after buying an additional 1,559 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Backblaze during the third quarter worth approximately $47,000. Summit Trail Advisors LLC acquired a new position in shares of Backblaze during the first quarter worth approximately $48,000. CWM LLC lifted its position in shares of Backblaze by 81.1% during the second quarter. CWM LLC now owns 8,957 shares of the company's stock worth $49,000 after purchasing an additional 4,012 shares in the last quarter. Finally, Corton Capital Inc. acquired a new position in shares of Backblaze during the first quarter worth approximately $52,000. 54.03% of the stock is currently owned by institutional investors and hedge funds.

Backblaze Company Profile

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.

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