Backblaze, Inc. (NASDAQ:BLZE - Get Free Report)'s share price dropped 3.7% during trading on Thursday . The company traded as low as $9.45 and last traded at $9.46. Approximately 482,638 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 484,977 shares. The stock had previously closed at $9.82.
Analyst Upgrades and Downgrades
BLZE has been the subject of several recent analyst reports. JMP Securities raised their price target on Backblaze from $7.00 to $8.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. Citizens Jmp started coverage on shares of Backblaze in a research note on Tuesday, June 24th. They issued a "strong-buy" rating and a $7.00 target price for the company. Finally, Needham & Company LLC boosted their target price on shares of Backblaze from $7.00 to $8.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $10.07.
View Our Latest Report on BLZE
Backblaze Price Performance
The stock has a fifty day moving average of $7.04 and a 200 day moving average of $5.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.24.
Backblaze (NASDAQ:BLZE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) 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 analysts' expectations of $35.41 million. Backblaze had a negative return on equity of 54.88% and a negative net margin of 31.72%. Backblaze has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts anticipate that Backblaze, Inc. will post -1.02 EPS for the current fiscal year.
Hedge Funds Weigh In On Backblaze
Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Backblaze by 15.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company's stock valued at $89,000 after buying an additional 1,992 shares during the period. Northern Trust Corp lifted its holdings in Backblaze by 21.5% in the fourth quarter. Northern Trust Corp now owns 380,538 shares of the company's stock valued at $2,291,000 after acquiring an additional 67,281 shares during the period. Jane Street Group LLC boosted its position in Backblaze by 106.8% in the 4th quarter. Jane Street Group LLC now owns 51,500 shares of the company's stock worth $310,000 after purchasing an additional 26,593 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Backblaze in the 4th quarter worth approximately $188,000. Finally, Bank of America Corp DE increased its holdings in shares of Backblaze by 53.9% during the 4th quarter. Bank of America Corp DE now owns 51,953 shares of the company's stock valued at $313,000 after purchasing an additional 18,193 shares in the last quarter. Hedge funds and other institutional investors own 54.03% of the company's stock.
Backblaze Company Profile
(
Get Free Report)
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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